SS&C Technologies finalises $1b Calastone acquisition

SS&C Technologies has confirmed that its planned acquisition of global funds network, Calastone, has been finalised for approximately US$1.03 billion.

The transaction, effective immediately, sees Calastone taken off the hands of global investment firm, Carlyle, and its 250-strong team join SS&C’s Global Investor & Distribution Solutions arm, reporting to General Manager, Nick Wright.

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

“Together, we will accelerate innovation for our clients, expand our reach, and continue to simplify the way the industry operates.”

The deal combines Calastone’s wealthtech capabilities with SS&C’s offerings across fund administration, transfer agency, artificial intelligence (AI) and intelligent automation, with ambitions to develop a “unified, real-time operating platform to reduce cost, complexity and operational risk” for its global client base.

“This is an exciting new chapter for Calastone,” Julien Hammerson, CEO of Calastone, said.

“Joining SS&C gives our clients and employees access to greater scale, investment, and opportunity. We’re proud of what we’ve built and look forward to contributing to SS&C’s continued growth and global success.”