SS&C Technologies Holdings has announced that it entered into an agreement to acquire Calastone for approximately USD 1.03 billion.
Through this move, SS&C is set to acquire Calastone, which has a global funds network and provides technology solutions for the wealth and asset management sectors. Additionally, Calastone handles a network linking over 4,500 financial institutions across 57 markets globally.
SS&C will acquire Calastone from Carlyle, an investment company which supported organisations like FRS Global, ITRS, Trema, and VWD. Carlyle recently invested in SurePay through its USD 3.2 billion CETP V fund to enable the latter to expand its suite of payment verification and fraud prevention solutions while scaling its geographical footprint across Europe and beyond.
More details on the deal
At the time of writing, the deal, which is valued at USD 1.03 billion, can still be subject to certain potential adjustments. Also, the transaction is expected to be completed in the last quarter of 2025, pending regulatory approval, with SS&C projecting it to be accretive within a year. The company is set to finance it through a mix of debt and available cash. As part of the acquisition, Calastone’s team of over 250 employees working in offices in London, Luxembourg, Hong Kong, Taipei, Singapore, New York, and Sydney, will move onto SS&C’s Global Investor & Distribution Solutions unit.
Furthermore, the decision to acquire Calastone falls in line with SS&C’s objective to solidify its investment operations and expand its global presence. By integrating Calastone into its operations, the company seeks to develop a cohesive platform that can optimise procedures, minimise costs, and lower risks in the global funds landscape while also assisting distribution efforts. Calastone’s network and technology capabilities will add to SS&C’s services in fund administration, transfer agency, artificial intelligence, and automation.
The move aims to improve investor services, scale operational efficiency, and support asset and wealth managers in developing new products while facilitating optimal results for investors worldwide.
