Citi completes acquisition of Bisys

Global financial services company

Citi has completed its acquisition of hedge fund administrator and mutual fund service provider Bisys, headquartered in Roseland-NJ, for $1.44 billion in an all-cash transaction. Citi has also sold the Retirement and Insurance Services Divisions of Bisys, making the net cost of the transaction to Citi roughly $800 million.

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