SS&C Technologies, a provider of financial services software, has agreed to acquire Calastone, a London-based operator of a global funds network, for approximately £766m from Carlyle.
Calastone is said to connect over 4,500 financial institutions across 57 markets, processing investment transactions worth over £250bn monthly. The company is also engaged in providing technology solutions to wealth and asset management businesses.
It employs more than 250 people. Apart from London, Calastone has operations in Luxembourg, Hong Kong, Singapore, Taipei, Sydney, and New York.
Upon completion of the deal, its employees will join SS&C’s global investor and distribution solutions division under the leadership of general manager Nick Wright.
Calastone CEO Julien Hammerson said: “We are pleased to be combining forces with SS&C in our joint mission to build the most comprehensive, intelligent and connected wealth and asset management ecosystem.
“SS&C’s global scale and deep expertise across fund services and technology will enable us to accelerate innovation and deliver new digital capabilities to the market. We look forward to working together to deliver transformational services to asset and wealth managers and drive growth.”
Headquartered in Windsor, Connecticut, SS&C is said to provide software and services to more than 22,000 organisations in the financial services and healthcare industries globally.
Established in 1986, the company has been expanding its geographic footprint and enhancing its technological capabilities. The acquisition of Calastone is expected to further SS&C’s strategic goals by integrating the latter’s network and technology solutions into its existing operations.
The deal is projected to be financially beneficial within a year and aims to create a unified platform that reduces costs and operational risks while enhancing distribution for asset managers worldwide. This alignment will enable increased innovation and product diversification, aiming for improved outcomes for investors.
SS&C chairman and CEO Bill Stone said: “We’re excited to welcome Julien, the Calastone team and their valued clients to SS&C.
“Together, we will create a more connected, automated, and intelligent global fund ecosystem — reducing complexity, enhancing client experience, and shaping the future of distribution and investment operations.”
Legal advice for SS&C was provided by Davis Polk & Wardwell Barclays served as the exclusive financial adviser to Calastone, with Linklaters and Mishcon De Reya offering legal counsel.
The acquisition is anticipated to close in Q4 2025, pending regulatory approvals. SS&C intends to finance the transaction through a combination of debt and cash reserves.
