LITTLE FALLS, N.J. — Bisys Group Inc., an information processor and outsourcer to the financial services industry, said Monday that it has agreed to buy Boston Institutional Group for about $35 million.

The deal for Boston Institutional, a provider of mutual fund outsourcing services, would add about 30 major mutual fund groups representing more than 300 funds. After the purchase, which is expected to close by April 30, Bisys would support about 120 mutual fund families, with more than $500 billion of assets.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.