NEW YORK, N.Y., Jan. 7 /PRNewswire-FirstCall/ -- BISYS, a leading provider
of outsourcing solutions for the financial services sector, today reported
that it has completed its previously announced acquisition of RK Consulting, a
premier provider of fund administration services including tax reporting
solutions for hedge funds and private equity funds. With the completion of
the transaction, BISYS' Hedge Fund and Private Equity businesses now exceed
$180 billion in assets under administration.
"We are pleased to welcome RK Consulting's associates to BISYS" said Russ
Fradin, BISYS' President and CEO. "We look forward to continuing to provide
RK Consulting's customers with the superior service for which RK is known in
the marketplace, and we remain enthused about the opportunities to leverage
RK's significant industry expertise and outstanding service capabilities as we
grow our Alternative Investment businesses."
The acquisition of RK Consulting was previously announced on December 21,
2004.
About BISYS
The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that
enable investment firms, insurance companies, and banks to more efficiently
serve their customers, grow their businesses, and respond to evolving
regulatory requirements. Its Investment Services group provides
administration and distribution services for mutual funds, hedge funds,
private equity funds, retirement plans and other investment products. Through
its Insurance Services group, BISYS is the nation's largest independent
wholesale distributor of life insurance and a leading independent wholesale
distributor of commercial property/casualty insurance, long-term care,
disability, and annuity products. BISYS' Information Services group provides
industry-leading information processing, back-office operations, and imaged
payment solutions to financial institutions and major corporations.
Headquartered in New York, BISYS generates more than $1 billion in annual
revenues worldwide. Additional information is available at
http://www.bisys.com.
Except for the historical information contained herein, the matters
discussed in the press release are forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting the Company's operations, markets, services and related
products, prices and other factors discussed in the Company's periodic filings
with the Securities and Exchange Commission.
SOURCE The BISYS Group, Inc.
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Related links:
http://www.bisys.com
Company News On-Call:
http://www.prnewswire.com/comp/851938.html
CONTACT:
Daniel Briggs, Vice President, Finance and
Investor Relations of The BISYS Group, Inc., +1-212-907-6134
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