ETF servicing provider Calastone has entered into an agreement to be acquired by SS&C Technologies.
The deal is valued at £766 million ($1.5 billion) and is expected to close in the fourth quarter of the 2025 calendar year.
Upon completion, Calastone will operate as part of SS&C’s Global Investor & Distribution Solutions which will enable it to further scale innovation, service delivery, and operational efficiency.
Founded in 2007, UK firm Calastone operates a transaction network for investment funds across 57 markets as well as an office in Sydney.
“Calastone’s global fund network and technology complement SS&C’s leadership in fund administration, transfer agency services, AI and intelligent automation. By combining capabilities, the two companies will deliver a unified, real-time operating platform to reduce cost, complexity, and operational risk across the global fund ecosystem as well as shaping distribution,” a statement read.
Calastone was previously owned by US private equity The Carlyle Group which acquired a majority stake in 2020.
Calastone chief executive, Julien Hammerson, said: “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.”
Bill Stone, chairman and CEO of SS&C, said: “Calastone has built an impressive network and platform, and together we will create a more connected, automated, and intelligent global fund ecosystem. This combination reinforces our commitment to delivering innovative, scalable solutions to reduce complexity and enhance outcomes for the asset and wealth management industry.”
Earlier this month, Insignia Financial completed the transition of its administration and technology functions to SS&C which saw 1,300 people in these teams move over to the firm. Insignia Financial will retain functions such as claims, complaints, product development, relationship management, marketing, member education, and advice and guidance.
