Tom Steinert-Threlkeld
SS&C Technologies Holdings said it agreed to acquire an Irish supplier of administrative services for investment funds.
The Windsor, CT, provider of investment and financial software and services said
BDO Simpson Xavier is a unit of BDO, the fifth largest accountancy firm in Ireland and is a member of the BDO International network, the world's fifth largest accounting network.
Terms of the transaction were not disclosed.
The purchase lets SS&C begin providing services to the European regulated funds market, including Undertakings for Collective Investment in Transferable Securities (UCITS) and Qualifying Investor funds.
""We will be bringing our advanced portal and mobile technologies and believe we will create the most technologically advanced administrator in Ireland.,’’ said David Reid, senior vice president and managing director of SS&C International.
"We are pleased SS&C, a world-class fund administrator with $223 billion in assets under administration, is acquiring this business," said Derry Gray, managingi partner, BDO. "SS&C invests heavily in people, process and technology.’’
The change of ownership was approved by the Central Bank of Ireland on August 12. 2011. The transaction is expected to close before the end of the month.
