Acquisition to add recognized expertise in administering complex fund structures and bolsters Canadian presence
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced it has entered into an agreement to acquire CACEIS North America, the fund administration business of CACEIS based in Toronto and New York. The acquisition, which is subject to customary closing conditions, is expected to close in the first quarter of 2018.
SS&C Technologies (PRNewsFoto/SS&C Technologies)
"We welcome the clients and skilled professionals of CACEIS North America. This acquisition further enhances the depth of our teams and our servicing capability in the Toronto and New York markets," said Bill Stone, Chairman and CEO.
CACEIS is known for its leading fund administration services and support for complex investment strategies. The acquisition will add 65 employees, servicing more than $15.8 billion in investment fund assets.
"I am very pleased for our clients to join SS&C, as our companies both share the same vision and passion for delivering quality service. We believe this move is very positive for the clients and our team, who will now have greater opportunities working with the leader in North American fund administration," said Jean-Francois Abadie, CEO, CACEIS.
"We are confident in SS&C and excited for the future of clients and employees of CACEIS North America. We believe our clients will benefit from SS&C's robust technology platform, while taking advantage of their enhanced capabilities and global reach," said Tina McInnis, CEO, CACEIS Canada.
Park Sutton served as exclusive financial advisor to CACEIS in connection to the transaction.