SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), today announced it has entered into an agreement to acquire Capita Life & Pensions Services (Ireland) Limited (CLPSI) and certain related business.
The acquisition grows SS&C’s presence in the international life insurance and pensions servicing market.
CLPSI provides business process management, technology and consultancy services to the international life and pensions sector. With approximately 380 employees in Dublin, Belfast, and Craigforth, the business offers financial and back-office administration services, claims management, actuarial and financial reporting, investment administration, product and IT development, and business transformation services.
“CLPSI is a well-established services and technology provider in Ireland, and the acquisition adds to our international outsourcing business,” said Bill Stone,Chairman and Chief Executive Officer of SS&C Technologies. “Combining our expertise and leading-edge technologies will enable SS&C and CLPSI to provide existing and new clients a first class service offering.”
The acquisition, which is subject to customary closing conditions and regulatory approvals, is expected to close in Q2 2020. As the transaction is not material to either SS&C or Capita, financial terms were not disclosed.