SS&C (SSNC) announced a definitive agreement to acquire Calastone from global investment firm Carlyle (CG). The purchase price is approximately GBP 766M, or $1.03B, subject to certain adjustments. The acquisition is expected to close in Q4, subject to regulatory approvals. SS&C expects the acquisition to be accretive within 12 months and plans to fund the purchase with a combination of debt and cash on hand. Calastone’s more than 250 staffers in London, Luxembourg, Hong Kong, Taipei, Singapore, New York and Sydney are expected to join SS&C Global Investor & Distribution Solutions, reporting to general manager Nick Wright.
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