SS&C Technologies Holdings, a provider of investment and financial software and services, has entered into a definitive agreement to acquire BDO Simpson Xavier Fund Administration Services, a division of BDO based in Dublin.

The new division of SS&C will be known as SS&C Fund Services Ireland and the transaction, subject to customary closing conditions, is expected to close before the end of the month. Further details of the deal were not disclosed.

The acquisition of the regulated and fully staffed office in Dublin aims to provide SS&C entry into the European funds market, which SS&C views as “strategically important”.

"The BDO business is highly complementary to our existing business. We have been evaluating the Dublin market for over a year and we found a quality organisation with excellent clients," said David Reid, senior vice president and managing director of SS&C International.

"We will be bringing our advanced portal and mobile technologies and believe we will create the most technologically advanced administrator in Ireland,” he added.

The change of ownership was approved by the Central Bank of Ireland on 12 August 2011, according to a statement.