(Reuters) -Financial software provider SS&C Technologies said on Monday it will acquire Carlyle's British fund network and data business Calastone for about 766 million pounds ($1.03 billion). The
SS&C Technologies Acquires Calastone from Carlyle for $1 Billion
SS&C's Strategic Acquisition of Calastone
(Reuters) -Financial software provider SS&C Technologies said on Monday it will acquire Carlyle's British fund network and data business Calastone for about 766 million pounds ($1.03 billion).
Details of the Acquisition
The Windsor, Connecticut-headquartered SS&C plans to fund the purchase with a combination of debt and cash on hand, it said in a statement.
Carlyle's Background with Calastone
Reuters, in January, reported that Carlyle was working with Barclays to explore the sale of the London-headquartered business, a marketplace for trading and settling investment funds underpinned by blockchain technology.
Calastone's Market Impact
Carlyle, which has $447 billion under management, bought Calastone from venture capital investor Octopus Ventures and Accel in 2020 for an undisclosed sum.
Calastone's customers span 4,500 fund distribution and fund manager clients in 57 countries, processing over 250 billion pounds of investment value each month, according to its website.
($1 = 0.7437 pounds)
(Reporting by Dheeraj Kumar in Bengaluru; Editing by Mrigank Dhaniwala and Vijay Kishore)
