Share registry Computershare Ltd (ASX:CPU) has inked a deal to buy The Bank of New York Mellon Corporation's Shareowner Services Business.
Computershare will pay $US550 million in cash to acquire the US share services operation.
CEO and President of Computershare, Stuart Crosby, says the latest deal represents the company’s largest ever acquisition with revenues of $US291 million in calendar 2010.
The transaction will be funded from available cash resources and new credit lines and is expected to be management earnings per share accretive.
Earlier this month Computershare said it had expanded its Italian presence through acquiring an Italian issuer services provider, Servizio Titoli SpA, for $44.6 million.
In the first six months of the 2011 financial year Computershare reported a net profit of $117.7 million.
