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March 13, 2018

SS&C to buy CACEIS North America

SS&C Technologies has agreed to acquire CACEIS North America, the fund administration unit of CACEIS based in Toronto and New York.

CACEIS, a member of the Credit Agricole Group, offers execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support as well as issuer services.

The deal will add over $15.8bn in assets to SS&C’s books. A total of 65 staff will join SS&C as part of the deal.

SS&C chairman and CEO Bill Stone said: “We welcome the clients and skilled professionals of CACEIS North America. This acquisition further enhances the depth of our teams and our servicing capability in the Toronto and New York markets.”

The deal, whose terms were not revealed, is anticipated to be completed in the first quarter of 2018.

CACEIS Canada CEO Tina McInnis said: “We believe our clients will benefit from SS&C’s robust technology platform, while taking advantage of their enhanced capabilities and global reach.”

SS&C has been on an acquisition spree in the recent times, the latest being its purchase of asset management technology provider DST Systems for nearly $5.4bn.

It agreed to buy asset servicing company Conifer in December 2016, followed by the acquisition of CRM solutions provider Salentica in October 2016, and acquisition of Wells Fargo’s fund administration arm in September that year.

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