SS&C Completes Acquisition of Capita's Life Insurance and Pensions Servicing Business in Ireland
SS&C Technologies (Nasdaq: SSNC) has completed the acquisition of Capita Life & Pensions Services (Ireland) Limited, enhancing its global business process outsourcing capabilities.
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Rhea-AI Summary
SS&C Technologies (Nasdaq: SSNC) has completed the acquisition of Capita Life & Pensions Services (Ireland) Limited, enhancing its global business process outsourcing capabilities. The acquisition adds approximately 370 employees in Dublin, Belfast, and Craigforth, bringing extensive expertise in business process management, technology, and consultancy services for the international life and pensions sector. This move positions SS&C to address the complexities of retirement assets more effectively, expanding its footprint and depth in multi-jurisdictional servicing.
Positive
- Acquisition expands international business process outsourcing capabilities.
- Adds 370 employees, enhancing service delivery in life and pensions sector.
- Increases expertise in multi-jurisdictional servicing and technology support.
Negative
- None.
Details
News Market Reaction – SSNC
The recorded move for SSNC in the trading session of this news was -1.88%.
Data tracked by StockTitan Argus. Session date unavailable.
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WINDSOR, Conn., March 3, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the completion of the acquisition of Capita Life & Pensions Services (Ireland) Limited (CLPSI) and certain related businesses. The purchase price was not disclosed.
The addition of CLPSI acquisition will extend SS&C's business process outsourcing offering internationally.
CLPSI provides business process management, technology and consultancy services to the international life and pensions sector. Services offered include financial and back-office administration, claims management, actuarial and financial reporting, investment administration, product and IT development and business transformation services.
The acquisition adds approximately 370 employees in Dublin, Belfast, and Craigforth. The group will continue to focus on Ireland as part of SS&C's Global Investor and Distribution Solutions business.
"We are pleased to welcome CLPSI's clients and skilled personnel to SS&C," said Bill Stone, Chairman and Chief Executive Officer of SS&C Technologies. "This acquisition increases not only our footprint, but our depth across multi-jurisdictional servicing, life and pensions expertise, and technology to support for products throughout their lifecycle. Retirement assets are becoming increasingly complex and our Global Investor and Distribution Solutions provide a variety of capabilities from accumulation through distribution."
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.
Additional information about
SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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About Capita
Capita is a consulting, digital services and software business. Every day our 61,000 colleagues help millions of people, by delivering innovative solutions to transform and simplify the connections between businesses and customers, governments and citizens. We partner with clients and provide the insight and cutting-edge technologies that give time back, allowing them to focus on what they do best and making people's lives easier and simpler. We operate in the UK, Europe, India and South Africa – and across six divisions: Customer Management; Government Services; People Solutions; Software; Specialist Services; and Technology Solutions. Capita is quoted on the London Stock Exchange (CPI.L). Further information can be found at: http://www.capita.com
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SOURCE SS&C
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