SS&C Technologies has successfully completed its acquisition of funds processing network Calastone, marking one of the most significant transactions between investment management technology firms in recent years.
The acquisition, initially announced in July, had a purchase price of $1.03 billion, subject to certain adjustments. The transaction was financed through a blend of debt and cash.
With the deal finalized, Calastone’s workforce of 250 employees will integrate into SS&C Global Investor & Distribution Solutions, under the leadership of General Manager Nick Wright.
Calastone’s CEO, Julian Hammerson, characterized the acquisition as “an exciting new chapter” for the firm. He stated, “Joining SS&C provides our clients and employees with enhanced scale, greater investment, and abundant opportunities. We take pride in what we have accomplished and look forward to contributing to SS&C’s ongoing growth and international success.”