SS&C Technologies Holdings Inc. is buying an Irish fund administrator, giving the Windsor financial software and services vendor entry to Europe’s regulated funds market.
Financial terms of the pending acquisition of Dublin-based BDO Simpson Xavier Fund Administration Services Ltd. weren’t disclosed. Parent BDO is Ireland’s fifth largest accounting firm.
SS&C said Friday the proposed ownership change has been cleared with the Central Bank of Ireland, that nation’s financial clearinghouse.
SS&C said BDO Simpson’s fund accounting, administration and transfer agency services to the hedge fund and fund of funds sectors complements its business model.
“We have been evaluating the Dublin market for over a year and we found a quality organization with excellent clients,” said David Reid, senior vice president and managing director of SS&C International.
Purchase completion for what will be known as SS&C Fund Services Ireland Ltd. is expected by the end of August.
SS&C has $223 billion in assets under administration.
