SS&C Technologies, a Connecticut-based financial technology services provider, has agreed to acquire the Investrack business from Dubai-based digital customer engagement solutions provider Globacom Technologies.

Investrack provides digital financial solutions, which empowers private banks, as well as wealth and investment management firms.

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Upon completion of the transaction, Investrack will become a business unit of SS&C Advent, the portfolio-management and accounting solutions arm of SS&C.

SS&C Advent senior vice president and general manager Robert Roley said: “Our acquisition of Investrack supports our commitment to providing innovative products and services to elevate the client experience.

“Investrack helps our client deepen their own client relationships, differentiate in a competitive market and further extends our global strategy, particularly in the Middle East.

“Adding Investrack strengthens our offering for digital investor engagement and adds best-in-class technology, people and expertise.”

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All 29 staff of Investrack will be absorbed by SS&C. The acquisition will also provide SS&C with 30 clients across 14 countries.

The management team of the acquired entity, including CEO Vijay Kartha, will report to SS&C Advent international business development head Mats Berggren.

Kartha said: “We believe SS&C’s global reach will help realise the full potential of Investrack. The Investrack team is excited to work with SS&C to realise this objective.”

The transaction is scheduled to complete later this month.

Takeover of Investrack continues SS&C’s buying spree. Last April, SS&C concluded the acquisition of DST Systems, a Missouri-based based technology provider, for around $5.4bn including the assumption of debt.