The Bisys Group Inc. and Concord Holding Corp. announced that their merger is on track to close next month.
The two marketing firms have received permission to cement their deal under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The merger also requires the approval of both Bisys and Concord shareholders, which is expected later this month.
Based in Little Falls, N.J., Bisys provides technology to financial organizations. The company's investment services group designs, administers, services, and distributes proprietary mutual funds. The group also provides 401(k) administration services.
Concord also provides administrative and distribution services to bank- sponsored mutual funds. The New York-based company provides services to 12 clients, including 10 of the nation's largest banks.