Ocorian, a provider of administration, fiduciary and accounting services that re-branded from Bedell Trust in 2016, has agreed to acquire ABAX, a Mauritius-based advisory, corporate and business services firm, for an undisclosed sum.
The deal, anticipated to be wrapped up next month, will expand Ocorian’s service range and delivery capability to Africa, Asia and the Middle East.
On the other hand, the acquisition will offer ABAX clients access to Ocorian’s alternative investment, corporate and private client services across various locations including Channel Islands, Cayman Islands, Ireland, Luxembourg, Netherlands, Singapore, UK and US.
All 275 staff of the acquired entity will migrate to Ocorian as part of the deal, increasing Ocorian’s international headcount to over 700.
Ocorian CEO Nick Cawley said: “This transaction reflects the sustained expansion and diversification of Ocorian’s newly defined business and our commitment to growth in leading jurisdictions. It will further strengthen our position as a leading global financial services provider and give enhanced range and scope across both Africa and Asia.”
The latest deal comes shortly after Ocorian’s takeover of MAS International, a fund administration and corporate services provider based in Luxembourg and Mauritius.