SS&C Technologies Holdings, a global financial services software developer, has agreed to acquire CACEIS North America, the fund administration business of CACEIS.
The company is an asset servicing banking group under Crédit Agricole which is focused on institutional and corporate clients. CACEIS offers a range of services including execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support and issuer services. Through the company’s data platform, investors can get a better view of their portfolios.
SS&C creates investment and financial software services to help firms manage and account for their portfolios. Its software helps clients to get a clearer understanding of their portfolios and implement solutions to simplify processes such as accounting or accessing data and information.
The company’s technology is used across the alternative investment, asset management, banking, lending, wealth management, insurance, and property management industries. Software offering include support for accounting, data management, risk and compliance and employee benefits.
Through the acquisition, the companies hope to enhance their teams and servicing capabilities across the Toronto and New York markets.
CACEIS CEO Jean-Francois Abadie said, “I am very pleased for our clients to join SS&C, as our companies both share the same vision and passion for delivering quality service. We believe this move is very positive for the clients and our team, who will now have greater opportunities working with the leader in North American fund administration.”
Earlier in the year, New Spring used its mezzanine fund to invest in software developer Pillar Technology. The company designs and builds software for a range of financial services such as audit processing.
Copyright © 2018 FinTech Global
