Latest news with #databusiness
Daily Mail
21-07-2025
- Business
- Daily Mail
Funds network Calastone sold to US financial software provider SS&C Technologies in £766m deal
Calastone has been sold to US financial software provider SS&C Technologies for £766million. Based in London, the British funds network and data business began operating in 2008 and now has offices worldwide, serving 4,500 clients in 57 countries. US buyout group Carlyle bought Calastone from venture capital investors Octopus Ventures and Accel for an undisclosed sum in 2020. The group was put up for sale earlier this year and the Mail revealed two weeks ago that a deal was imminent. It is expected to complete later this year. The sale was described by Calastone as a 'strong endorsement of its network, technology and client relationships built by the team over the past 17 years'. After the deal is done, Calastone will operate as part of SS&C's global investor and distribution solutions division. Calastone chief executive Julien Hammerson said: 'This is a proud moment. 'SS&C's global scale and deep expertise across fund services and technology will enable us to accelerate innovation and deliver new digital capabilities to the market.'
Bloomberg
16-07-2025
- Business
- Bloomberg
Scale AI to Cut 14% of Staff Following Meta Investment
Scale AI is laying off hundreds of employees from its data-labeling business, one month after Meta Platforms Inc. invested $14.3 billion in the startup and hired away its chief executive officer. The company cut 200 full-time employees, about 14% of its global workforce, and will provide severance, Scale spokesperson Joe Osborne said Wednesday. Scale will also stop working with 500 of its thousands of global contractors, he said.
