SS&C Technologies will acquire Irish-based Capita Life and Pensions Services (CLPSI) as it looks to add to its international pensions and insurance administration services business.
The acquisition will see the addition of CLPSI’s range of back-office administration services, as well as business process management, technology and consultancy services to the international life and pensions sector.
“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 CEO 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 is the second in consecutive months for the tech giant, following its announced takeover of machine learning and digital transformation firm Captricity.
The deal is also the first for a fund administration business since its failed bid of Australian-based GBST Holdings in July last year.
Earlier this month, SS&C hired Nicolle Taylor as a new vice president of retirement plan administration, who will focus on expanding business process outsourcing for its pension fund clients.
The acquisition of CLPSI, which is subject to customary closing conditions and regulatory approvals, is expected to close by the end of the second quarter.