KFin Technologies to acquire a 51% stake in Ascent Fund Services for $34m.

KFin Technologies, a provider of investor and issuer solutions to global asset managers, agreed to acquire a 51% stake in Ascent Fund Services, one of the fastest growing independent fund administratorsin the world, for $34m. Post this transaction, KFintech will become the sole promoter of Ascent, and the residual 49% stake will be acquired in three equal tranches of 16.33% each after the end of fiscal year 2028, 2029, and 2030 respectively. The transaction is subject to customary regulatory approvals.