SS&C Technologies Holdings Inc. (NASDAQ:SSNC) has signed a definitive agreement to acquire Calastone, a major technology player in the wealth and asset management space, from global investment firm Carlyle (NASDAQ:CG) for approximately £766 million, or around $1.03 billion.

The deal marks a major expansion move for SS&C in global fund distribution and automation. Based in London, Calastone connects over 4,500 financial organizations across 57 markets. The transaction is expected to close in the fourth quarter of 2025, pending regulatory clearance.

SS&C will integrate Calastone’s 250-person workforce across seven global offices into its Global Investor & Distribution Solutions unit, led by General Manager Nick Wright. The acquisition, to be financed through a mix of debt and cash, is expected to become earnings accretive within 12 months.

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SS&C’s Chairman and CEO Bill Stone said the combination will help build a more intelligent and automated global fund infrastructure. “Together, we will create a more connected, automated, and intelligent global fund ecosystem,” he said.

Calastone’s platform aligns with SS&C’s strengths in fund administration, AI, and automation. The merger aims to cut costs and risks for clients while improving scalability and investor services globally.

Julien Hammerson, Calastone’s CEO, said joining SS&C will help speed innovation and deliver new capabilities to asset and wealth managers. Fernando Chueca of Carlyle added that the firm is confident SS&C is the right partner to carry Calastone forward after a period of substantial growth.

SS&C Technologies held $515.0 million in cash and cash equivalents as of March 31, 2025.

Related ETFs: iShares Global Tech ETF (NYSE:IXN), Financial Select Sector SPDR Fund (NYSE:XLF).

Price Action: CG shares are trading lower by 0.10% to $60.11 premarket at last check Monday. SSNC shares closed 0.18% higher at $83.41 on Friday.

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