SS&C Technologies has announced an agreement to acquire the fund administration arm of Ireland-based accountancy firm BDO.
The change of ownership was approved by the Central Bank of Ireland on the 12th of August 2011. The new division of the US head-quartered financial services software provider will be known as SS&C Fund Services Ireland. The transaction is expected to close before the end of August 2011.
"The BDO business is highly complementary to our existing business. We have been evaluating the Dublin market for over a year and we found a quality organisation with excellent clients," said David Reid, senior vice-president and managing director, SS&C International. "We will be bringing our advanced portal and mobile technologies and believe we will create the most technologically advanced administrator in Ireland."
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.
