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Iress completes the sale of its Managed Funds Administration business to SS&C Technologies

ASX-listed Iress has today announced progress against its strategy. The sale of the Managed Funds Administration (MFA) business to SS&C Technologies was completed on Sunday 1 October. As announced on 21 August 2023, SS&C have purchased the MFA business for a total cash consideration of $52 million subject to customary working capital adjustments. Iress have stated that they will use the net proceeds of the sale to retire debt. Iress' Chief Executive Officer Marcus Price said, "...
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