Oaks’ SEI Investments Acquires Archway Technology Partners for $80 Million
Oaks’ SEI Investments has agreed to pay $80 million plus up to $8 million in financial growth earn-outs for Archway Technology Partners, writes Jeff Blumenthal for Philadelphia Business Journal.
Archway provides operating technologies and services to the family office industry and provides technology to other institutions that service this market. According to SEI, the deal firmly establishes its presence in the family office segment and adds new vertical markets to its operations.
SEI already provides investment management, processing, and operations solutions to corporations, financial institutions, financial advisers, and families with high net worth.
At present, the company employs 3,200 at its Oaks headquarters. However, it is in the early stages of creating a plan for the expansion of its Montgomery County campus onto an adjacent 90 acres. Over time, this could potentially double the space the company currently occupies.
SEI founder, Chairman and CEO Al West, said that the Archway deal represents a modest shift in the company’s longstanding belief in purely organic growth.
“We believe there is value in growing through carefully considered strategic acquisitions that add to our expanding geographic footprint, market reach, platform functionality and expertise.”
Read more about SEI’s acquisition at Philadelphia Business Journal by clicking here.
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