SS&C Acquires Calastone for $1 Billion
- Kendrick Wakeman, CFA
- Jul 22
- 1 min read
SS&C announced that they have acquired Calastone, the UK-based global funds network for approximately $1 billion. SS&C will fund the purchase out of cash on hand and debt (probably more of the latter than the former). Calastone is a good example of how technology is disrupting investment infrastructure. It uses modern technology to fully automate the mutual fund transaction process and has added tokenization to automate ETF and money market trading as well. It counts some of the most prestigious financial institutions as clients, including JP Morgan, where is runs behind their Morgan Money liquidity platform.
Calastone started in 2007, raised almost $27mm, sold to Accel and Octopus, who then sold it to Carlyle, who has now sold it to SS&C. We will undoubtedly learn more on SS&C's quarterly earnings call, which is tomorrow, July 23, 5pm ET.
