BNY Mellon Signs An Agreement to Acquire Milestone Group

BNY Mellon, a global investments company, recently announced that it has entered into a definitive agreement acquire Milestone Group, an institutional fintech firm serving the investments industry.

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The official press release states that BNY Mellon will advance the digitization and automation of core accounting and asset services and expand the digital offerings and core capabilities by acquiring Milestone.

BNY Mellon's clients will benefit from bolstered resiliency and transparency packaged in a seamless digital experience, access to a leading platform and an array of digital solutions and the flexibility to choose from existing and new end-to-end solutions.

Commenting on the acquisition, Roman Regelman, BNY Mellon's CEO of Asset Servicing and Head of Digital said:”This transaction with Milestone is the latest demonstration of BNY Mellon's commitment to support clients across the investment lifecycle and provide clients with open and flexible digital solutions that enable them to optimize, scale and grow their businesses. We gain both industry-leading technology as well as the expertise that Milestone is known for globally. This is a significant step in our continuous evolution — blending leading edge technologies and services to deliver greater efficiency and value for our clients."

Terms of the acquisition were not publicly disclosed. Closing of the transaction is subject to customary conditions and approvals and is expected to occur in the second half of 2021.