SS&C completes $1.03 billion acquisition of Calastone from Carlyle

WINDSOR, Conn. - SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has completed its acquisition of Calastone, the largest global funds network, from investment firm Carlyle for approximately £766 million (US$1.03 billion), subject to certain adjustments.

The transaction, announced Monday, was funded through a combination of debt and cash. SS&C upsized its Term Loan B facility by $1,050 million with an interest rate of SOFR+200 and maturity in 2031. The company expects the acquisition to be accretive over the next 12 months.

Calastone's team of 250 employees will join SS&C Global Investor & Distribution Solutions, reporting to General Manager Nick Wright. The acquired company maintains offices across London, Luxembourg, Hong Kong, Taipei, Singapore, New York and Sydney.

The acquisition combines Calastone's global network with SS&C's existing services in fund administration and transfer agency. According to the company's press release, the integration aims to deliver a unified operating platform to reduce costs and operational risks for fund industry participants.

"Calastone's network and technology further strengthen SS&C's leadership across global fund operations," said Bill Stone, Chairman and CEO of SS&C Technologies.

Julien Hammerson, CEO of Calastone, stated, "Joining SS&C gives our clients and employees access to greater scale, investment, and opportunity."

Calastone currently serves 4,500 clients in 58 countries and territories, processing over £250 billion of investment value monthly. SS&C, headquartered in Windsor, Connecticut, provides services and software for financial services and healthcare industries with 22,000 organizations relying on its offerings.

Davis Polk & Wardwell LLP advised SS&C on the transaction.

In other recent news, SS&C Technologies Holdings, Inc. is set to release its third-quarter earnings report on October 23, 2025. Analysts from DA Davidson and UBS have reiterated their Buy ratings on the company, with price targets set at $102 and $110, respectively. UBS has also identified SS&C Technologies as a top investment idea, highlighting its potential in the financial services sector due to rising data needs and asset complexity. Additionally, UBS raised its price target from $108 to $110, marking the highest target on Wall Street for the company. In another development, SS&C Technologies announced an 8% increase in its annual dividend, bringing it to $1.08 per share. The company plans to distribute its next quarterly dividend of $0.27 per share on September 15, 2025. Furthermore, DA Davidson maintained its Buy rating following SS&C's strong second-quarter performance, where revenue and adjusted EBITDA exceeded expectations. These updates reflect recent developments concerning SS&C Technologies.

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