SS&C Technologies To Acquire Iress' Managed Funds Administration Business

(RTTNews) - SS&C Technologies Holdings Inc. (SSNC) said Sunday that it agreed to acquire the managed funds administration (MFA) business from Iress, Australian financial services technology company. Around 150 team members are expected to join SS&C Global Investor & Distribution Solutions, which focuses on transfer, unit and platform agency and administration.

The deal is expected to close in third quarter of 2023.

According to the company, the MFA business is one of Australia's largest third-party fund registries, with around A$900 billion in managed assets across over 1,400 funds, four custodians and 69 fund managers.