SS&C Technologies Finalizes $1.03B Acquisition of Calastone
The deal unites SS&C's fund administration services with Calastone's extensive global funds network, promising enhanced efficiency and automation for the asset management industry.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has officially completed its acquisition of Calastone, the largest global funds network, in a deal valued at approximately $1.03 billion. The transaction, which was funded through a combination of cash and debt, is expected to be accretive to SS&C's adjusted earnings per share.
The acquisition marks a significant strategic move for SS&C, a major player in the financial services software and services industry. By integrating Calastone's extensive network, which connects over 4,500 clients in 58 countries, SS&C aims to create a comprehensive, one-stop solution for fund managers, distributors, and transfer agents. The move is set to enhance SS&C's offerings in global fund operations and transfer agency services, leveraging Calastone's expertise in AI-driven automation to streamline processes and reduce operational costs for clients. According to a company press release, the combined entity will provide a unified, real-time operating platform, mitigating complexity and risk in the global funds ecosystem.
Calastone, which processes over £250 billion in investment value monthly, brings a wealth of experience and a robust technological infrastructure to the table. The company's 250 employees will join SS&C's Global Investor & Distribution Solutions division, with the goal of fostering innovation and delivering enhanced value to clients. The acquisition, first announced earlier this year, is poised to reshape the landscape of the asset management industry by providing clients with improved distribution channels, enhanced investor servicing, and greater operational scalability. Market analysts see the deal as a way for SS&C to solidify its position as a leader in financial technology and to capitalize on the growing demand for digitized and automated solutions in the fund industry.