SS&C Completes Acquisition of Capita's Life Insurance and Pensions Servicing Business in Ireland

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.

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

http://www.capita.com

 

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SOURCE SS&C

FAQ

What is the recent acquisition made by SSNC?

SS&C Technologies has acquired Capita Life & Pensions Services (Ireland) Limited.

When was the acquisition of Capita Life & Pensions Services completed?

The acquisition was completed on March 3, 2021.

How many employees did SSNC acquire through the Capita acquisition?

SS&C acquired approximately 370 employees in the acquisition of Capita.

What sectors does Capita Life & Pensions Services serve?

Capita provides services to the international life and pensions sector.

What impact does the acquisition have on SSNC's business?

The acquisition strengthens SS&C's global footprint and enhances its capabilities in managing complex retirement assets.