Fintech giant SunGard has acquired corporate actions automation specialist XcitekSolutionsPlus (XSP). Financial terms of the deal were not disclosed.
XSP offers deployed, hosted and SaaS-based solutions that help automate the corporate actions processing lifecycle, including data sourcing and cleansing, position monitoring, notification and response and entitlement processing.
The firm will become part of SunGard's capital markets business, with current chief executive, Brendan Farrell continuing to lead his team, reporting to John Grimaldi, head of the North American securities business.
Says Grimaldi: "The acquisition of XSP will help us deliver specialist corporate actions expertise and solutions to...core customers, and enhance our offering to our securities processing, accounting and servicing customers."