SS&C enters around $1bn deal to acquire fund network Calastone
SS&C Technologies Holdings has agreed to acquire Calastone, which has a global funds network and offers technology solutions for the wealth and asset management sectors, from investment firm Carlyle.
The deal is valued at around £766m ($1.03bn), with potential adjustments.
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Calastone manages a network linking more than 4,500 financial institutions across 57 markets worldwide.
The transaction is slated for completion in the last quarter of 2025, pending regulatory approval.
SS&C anticipates the deal to be accretive within a year and will finance it using a mix of debt and available cash.
Calastone’s workforce of over 250, based in offices in London, Luxembourg, Hong Kong, Taipei, Singapore, New York, and Sydney, will transition to SS&C’s Global Investor & Distribution Solutions unit.
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By GlobalDataThese employees will report to general manager Nick Wright.
The purchase aligns with SS&C’s aim to strengthen its investment operations and expand its global presence.
Calastone’s network and technological capabilities is said to complement SS&C’s services in fund administration, transfer agency, artificial intelligence, and automation.
The integration of the two companies is expected to create a cohesive platform to simplify operations, lower costs, and reduce risks in the global funds ecosystem, while also supporting distribution efforts.
This combination is anticipated to enhance investor services, improve operational efficiency, and enable asset and wealth managers to develop new products and deliver improved results for investors globally.
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