M&A Deal Summary

State Street Acquires Goldman Sachs Administration Services

On July 17, 2012, State Street acquired business services company Goldman Sachs Administration Services from The Goldman Sachs Group for 550M USD

Acquisition Highlights
  • This is State Street’s 2nd transaction in the Business Services sector.
  • This is State Street’s 6th largest (disclosed) transaction.
  • This is State Street’s 6th transaction in the United States.

M&A Deal Summary

Date 2012-07-17
Target Goldman Sachs Administration Services
Sector Business Services
Buyer(s) State Street
Sellers(s) The Goldman Sachs Group
Deal Type Divestiture
Deal Value 550M USD

Target

Goldman Sachs Administration Services

United States
Goldman Sachs Administration Services provides a hedge fund administration services.

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Buyer(S) 1

Buyer

State Street

Boston, Massachusetts, United States

Category Company
Founded 1792
Sector Financial Services
Employees39,439
Revenue 11.9B USD (2023)
DESCRIPTION

State Street is a specialist in providing institutional investors with investment servicing, investment management and investment research and trading services. State Street was founded in 1792 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 8 of 11
Sector (Business Services) 2 of 3
Type (Divestiture) 1 of 3
Country (United States) 6 of 9
Year (2012) 1 of 1
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-04 Complementa Investment-Controlling AG

St. Gallen, Switzerland

Complementa is a recognized leader in the precise and independent consolidation of assets, performance measurement and investment controlling for institutional and large private investors. The firm provides services to asset managers, banks, pension funds, family offices, insurance companies, foundations and trustees primarily based in Switzerland and Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-30 GE Asset Management

Stamford, Connecticut, United States

GE Asset Management is a global asset manager with $110 billion in assets under management (as of December 31, 2015). GEAM and its predecessor organizations have been managing investments for GE’s U.S. pension and other benefit plans for over 80 years. In 1988, the firm began offering investment management products and services to investors outside GE, and today manages portfolios for more than 100 institutional clients—including corporate and public retirement plan sponsors, foundations, endowments, sovereign wealth funds, insurance companies, and GE affiliates.

Buy $485M

Seller(S) 1

SELLER

The Goldman Sachs Group

New York, New York, United States

Category Company
Founded 1869
Sector Financial Services
Employees44,400
Revenue 46.3B USD (2023)
DESCRIPTION

The Goldman Sachs Group is an investment banking, securities and investment management firm. The Firm offers a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. The Goldman Sachs Group was founded in 1869 and is based in New York, New York.


DEAL STATS #
Overall 1 of 7
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 5
Country (United States) 1 of 6
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-23 AppSense

New York, New York, United States

AppSense is a provider of user virtualization solutions for enterprises, makes physical and virtual desktop deployment possible by ensuring a seamless user experience across all delivery platforms. AppSense accelerates multi-platform desktop deployments by eliminating costly user management tools, enabling single-image application delivery, and ensuring users have the same experience from any desktop. AppSense is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-20 Conterra Ultra Broadband

Charlotte, North Carolina, United States

Conterra Networks creates custom technology-based network solutions for businesses of all sizes across 22 states. The company has been designing, building, and managing 11,000+ mile owned and operated fiber network. Its service, reliability, and expertise in understanding customers’ needs have enabled them to become one of the fastest-growing telecommunication companies in the country. Conterra Ultra Broadband is based in Charlotte, North Carolina.

Sell -