Calastone Acquisition: SS&C Technologies Seals $766m Deal

In a significant move, SS&C Technologies, a leading US financial software provider, has acquired Calastone, a UK-based funds network, in a deal worth $766m. The acquisition is expected to enhance SS&C’s capabilities in the global funds industry. Calastone, founded in 2007, has established itself as a major player in the funds distribution and processing space. The company’s platform enables fund managers, distributors, and transfer agents to automate and streamline their operations. With this acquisition, SS&C Technologies aims to expand its presence in the global funds market. The deal is expected to close in the first quarter of 2024, subject to regulatory approvals. Calastone’s management team, including CEO Alexander Ross, will join SS&C Technologies. The acquisition is seen as a strategic move by SS&C Technologies to strengthen its position in the financial technology sector. Calastone’s technology and expertise will be integrated into SS&C’s existing platform, enabling the company to offer a more comprehensive range of services to its clients. The deal is also expected to drive growth and innovation in the funds industry, as SS&C Technologies and Calastone combine their expertise and resources. The acquisition has been welcomed by industry experts, who see it as a positive development for the global funds market. The deal is also expected to create new opportunities for fund managers, distributors, and transfer agents, as they will be able to leverage the combined capabilities of SS&C Technologies and Calastone. In terms of the financial implications, the deal is expected to be accretive to SS&C Technologies’ earnings in the first year after closing. The acquisition is also expected to drive long-term growth and profitability for the company. The funds industry is expected to continue to evolve and grow, driven by increasing demand for digital solutions and automation. As a result, the acquisition of Calastone by SS&C Technologies is seen as a strategic move to position the company for future growth and success. The deal is also expected to have a positive impact on the UK’s financial technology sector, as it demonstrates the attractiveness of UK-based companies to international investors. Overall, the acquisition of Calastone by SS&C Technologies is a significant development in the global funds industry, and is expected to drive growth, innovation, and consolidation in the sector.

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