First Data Investor Services Group Inc., a mutual fund services company, said Tuesday that it has acquired FPS Services Inc.
Located in King of Prussia, Pa., FPS serves about 30 small mutual fund families. It employs 180 people who will be kept after the sale, a First Data spokeswoman said.
Terms of the deal were not disclosed, because FPS is privately held, she added.
The acquisition will give First Data access to FPS' expertise in serving smaller fund families, as well as another location outside Massachusetts, the spokeswoman said. First Data will be able to hold on to customers who might have moved elsewhere once their needs grew too big for FPS to handle, she said.