SS&C Technologies Holdings, Inc. (NasdaqGS:SSNC) entered into definitive agreement to acquire Managed funds administration business of Iress for AUD 52 million on August 20, 2023. Total cash price of deal is subject to working capital adjustments. Iress will use the proceeds to retire debt.

Around 150 team members are expected to join SS&C Global Investor & Distribution Solutions, which focuses on transfer, unit and platform agency and administration. They will report to Euan McLeod, Head of Transfer Agency, APAC. The deal is expected to close in Q3 2023.