SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced an agreement to acquire Curo Fund Services, a prominent South African provider of fund administration solutions, from its current joint venture owners Sanlam and Old Mutual. The transaction remains subject to regulatory approval by the South African Competition Commission. The financial details of the deal have not been disclosed.
Curo administers more than R3 trillion (approximately USD 170.4 billion) in assets and provides services to Sanlam, Old Mutual, as well as third-party institutional clients across the region. Following the completion of the transaction, around 300 employees based in Cape Town will join SS&C. The South African firm already makes use of several of SS&C’s fund accounting and asset servicing technologies, providing a natural alignment between the two companies.
According to SS&C, the acquisition will not disrupt Curo’s existing client administration arrangements. Instead, the transaction is framed as a means of enhancing service delivery by integrating SS&C’s global scale, technology, and operational expertise with Curo’s established presence in the South African market. Bill Stone, Chairman and Chief Executive of SS&C, stated that Curo brings “deep client relationships and a proven service track record,” emphasising the opportunities for improved efficiency, data-driven insights, and integrated services across the region’s financial services landscape.
Once independent under SS&C’s ownership, Curo will operate within the Global Investor & Distribution Solutions group led by Nick Wright. The arrangement is intended to provide South African clients with greater neutrality and flexibility, alongside access to globally scaled services. The partnership also aims to position Curo for growth not only in South Africa but across the wider African continent, an ambition aligned with increasing cross-border financial integration in Africa.
Lionel Vice, Chief Executive of Curo, described the development as a step that will accelerate innovation and broaden the suite of solutions available to clients. He further noted that SS&C’s international expertise and commitment to the local market reflect Curo’s own objectives of strengthening service delivery and expanding its role in Africa’s financial services ecosystem.
Founded in 1986 and headquartered in Windsor, Connecticut, SS&C Technologies is a global provider of software and services to the financial services and healthcare industries. The firm serves more than 22,000 organisations worldwide, ranging from multinational corporations to mid-market firms. Curo, by contrast, has built its reputation in South Africa as a leading administrator of assets on behalf of asset managers, institutional investors, and investment platforms, offering comprehensive fund accounting, investor administration, and regulatory reporting services.
The acquisition, once approved, is expected to strengthen South Africa’s position as a financial services hub on the continent while broadening SS&C’s footprint across emerging markets. It also reflects the growing convergence between African financial services providers and global technology-enabled asset servicing firms.
