06:29 AM EDT, 07/21/2025 (MT Newswires) -- SS&C Technologies ( SSNC ) has agreed to acquire UK-based Calastone from private equity firm Carlyle Group ( CG ) in a deal worth about 766 million pounds ($1.03 billion), the companies said in separate statements on Monday.

The transaction, which requires approval from regulators, is expected to complete in the fourth quarter, according to the companies.

Software provider SS&C Technologies ( SSNC ) expects the acquisition to strengthen its ongoing geographic expansion efforts. The firm, which aims to finance the acquisition with debt and cash on hand, anticipates the deal to be accretive within 12 months.

SS&C Technologies ( SSNC ) and Calastone aim to develop a real-time operating platform to reduce costs, complexities and operational risks across the global fund ecosystem and shape distribution.

"Together, we will create a more connected, automated, and intelligent global fund ecosystem -- reducing complexity, enhancing client experience, and shaping the future of distribution and investment operations," SS&C Technologies ( SSNC ) Chief Executive Bill Stone said in a statement.

Calastone, which provides technology solutions to the wealth and asset management industries, processes more than 250 billion pounds of investment value per month. The company's 250 employees in London, Luxembourg, Hong Kong, Taipei, Singapore, New York and Sydney are expected to join SS&C Technologies' ( SSNC ) SS&C Global Investor & Distribution Solutions unit.

"SS&C's ( SSNC ) global scale and deep expertise across fund services and technology will enable us to accelerate innovation and deliver new digital capabilities to the market," Calastone CEO Julien Hammerson said in a separate statement. "We look forward to working together to deliver transformational services to asset and wealth managers and drive growth."

Carlyle acquired a majority stake in Calastone in 2020.

"We believe the business is well-positioned to build upon its market position and business momentum," according to Fernando Chueca, managing director of the Carlyle Europe Technology Partners investment advisory team. "We are confident that SS&C ( SSNC ) is the right partner to continue Calastone's success."