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Investing.com -- SS&C Technologies Holdings Inc (NASDAQ:SSNC) stock rose 3.1% after the company announced a definitive agreement to acquire Calastone, the largest global funds network, for approximately £766 million (US $1.03 billion) from global investment firm Carlyle.
The acquisition, expected to close in the fourth quarter of 2025 subject to regulatory approvals, will strengthen SS&C’s position in fund administration and transfer agency services. SS&C plans to fund the purchase with a combination of debt and cash on hand and expects the acquisition to be accretive within 12 months.
Calastone operates a global funds network connecting more than 4,500 financial organizations across 57 markets. The company’s approximately 250 employees across London, Luxembourg, Hong Kong, Taipei, Singapore, New York, and Sydney will join SS&C Global Investor & Distribution Solutions.
"Together, we will create a more connected, automated, and intelligent global fund ecosystem — reducing complexity, enhancing client experience, and shaping the future of distribution and investment operations," said Bill Stone, Chairman and CEO of SS&C Technologies.
The strategic acquisition aims to deliver a unified, real-time operating platform to reduce cost, complexity, and operational risk across the global fund ecosystem. Calastone’s CEO Julien Hammerson (LON:HMSO) noted that SS&C’s global scale and expertise will enable the company to accelerate innovation and deliver new digital capabilities.
Barclays (LON:BARC) served as exclusive financial advisor to Calastone, while SS&C was advised by Davis Polk & Wardwell LLP.
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