The Australian financial technology solutions provider Link Group has completed the acquisition of the London-headquartered Capita Asset Services (CAS) by an undisclosed amount.
The operation, announced on June 2017 when the Link Group declared it had entered into a binding agreement for the £888m CAS’ acquisition, will enable the Australian group to expand its presence throughout Europe bringing as a result the newly renamed company Link Asset Services.
Following the acquisition, Link Group – with an annual revenue of some £750m (€848m) and up to £600bn in assets under management (€678bn) – will increase its operations to 17 jurisdictions globally.
Link Group managing director’s John McMurtrie, said: “In CAS, we have acquired a business with leading market positions across its fund, corporate and private client, shareholder and banking and debt service lines. The business has longstanding customer relationships, operating in growth markets. Link Asset Services, highly complementary to Link Group, represents an attractive platform for further expansion in the UK and European markets.”
Anthony O’Keeffe, CEO of Link Group’s new Link Asset Services division commented: “To become part of Link Group, coupled with new complementary and supplementary capabilities and a broader international reach, puts us in an excellent position to continue to develop our strong partnerships with our clients.”
Link Group is a market-leading provider of technology-enabled solutions in financial and corporate markets. The company is listed on the Australian Securities Exchange with a market capitalisation of approximately AUD $4billion and is included in the S&P/ASX100.