The latest merger and acquisition deals in the wealth management industry across North America.

STP Investment Service, which has offices in the US and India, has bought a firm in the same sector which deals with operations outsourcing, called Accusource. Financial terms were not disclosed.

Accusource partners with investment management firms like RIAs, hedge funds, family offices and asset managers provides reconciliation, general ledger integration, performance measurement validation, and statement digitization services. The firm also provides data migration and staff augmentation to guide investment firms through periods of transition or disruption, STP said in a statement. 

For its part, STP provides middle office and investment operations outsourcing, fund services and technology solutions.

“This acquisition will further strengthen STP’s position across the investment industry and enhance the services we provide by giving investment firms looking to stay competitive the ability to outsource some, or all, middle and back office tasks. It further enhances our ability to offer people, platform, or people/platform-driven solutions,” Patrick Murray, president and CEO of STP Investment Services, said in a statement last week.