SS&C Technologies Holdings, a global provider of investment and financial software-enabled services, has agreed to acquire BDO Simpson Xavier Fund Administration Services Limited, a division of BDO.
The change of ownership was approved by the Central Bank of Ireland on August 12 this year. The new division of SS&C will be known as SS&C Fund Services Ireland Limited. The transaction is subject to customary closing conditions and is expected to close before the end of this month (August 2011).
The addition of the regulated, fully staffed and operational office in Dublin provides SS&C entry into the strategically important European regulated funds market, providing support for additional fund structures, including UCITS and QIF funds.
David Reid, senior vice-president and managing director, SS&C International says the BDO business is highly complementary to its existing business and that the firm's advanced portal and mobile technologies will create the most technologically advanced administration business in Ireland.
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