SS&C to Acquire Capita's Life Insurance and Pensions Servicing Business in Ireland
The acquisition grows SS&C's presence in International Life & Pensions servicing market
WINDSOR, Conn., April 21, 2020 /PRNewswire/ -- 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.
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.
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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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