The BISYS Group of Little Falls, N.J. has announced that it will acquire Boston Institutional Group of Boston, an outsourcing services provider for mutual fund complexes, for $35 million. The purchase will add 30 major mutual fund complexes to BISYS's customer list, according to the company. The transaction is expected to be completed by May, according to BISYS.

BISYS offers two services - fund accounting and transfer agency - that Boston Institutional Group does not, said Dennis Sheehan, executive vice president and chief financial officer at BISYS.

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