Continuing its move out of the financial crisis and into consolidation mode, State Street Corp. said Tuesday that it had agreed to buy a European fund administrator to expand its alternative servicing capabilities.

The Boston banking company said it would buy Mourant International Finance Administration, which is based on Jersey in Britain's Channel Islands, for an undisclosed cash price. The deal is expected to close in the first quarter and would add $170 billion of assets under administration and about 650 employees.

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