State Street (STT) agrees to purchase Goldman Sachs Administration Services for $550M, expecting...

|About: State Street Corporation (STT)|By:, SA News Editor

State Street (STT) agrees to purchase Goldman Sachs Administration Services for $550M, expecting to close on the deal in Q4. GSAS administers about $200B for about 150 hedge fund clients. State Street expects the deal to be accretive to earnings in the first year. (PR)