For Immediate Release
Chief Financial Officer
Tel: +1- 212-367-4705
SS&C Expands Investment Management Software and Services Offerings by Acquiring DST Global Solutions
WINDSOR, CT, December 1, 2014 (GLOBE NEWSWIRE)
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC), a global provider of financial services software and software-enabled services, today announced that it
has acquired DST Global Solutions Ltd., a subsidiary of DST Systems, Inc., for $95 million in cash. DST Global’s products now owned by SS&C include
industry-leading investment and fund accounting platform, HiPortfolio®, and investment data management and analytics platform, Anova. SS&C financed a
$75 million portion of the purchase price by drawing down on its line of credit.
With more than 155 customers throughout the Americas, EMEA, and Asia-Pacific, the DST Global products complement SS&C’s existing portfolio of
technology capabilities and service offerings. The acquisition further solidifies SS&C’s position as the leading global provider of investment
management software and outsourcing services.
DST Global has 390 employees operating in 12 offices including London, Melbourne, Bangkok, Hong Kong, Shanghai and Boston.
"We view EMEA and Asia Pacific as strategic geographies and this acquisition provides the talent, technology and client base to accelerate growth," says
Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “DST Global Solutions is a 390 person business with $60 to $65 million in annual
revenues, 90% of which comes from EMEA and Asia Pacific. This $95 million dollar investment will take integration and development but we are excited about
DST Global customers will also benefit from the strength and stability of partnering with SS&C, a leader in global financial services software and
outsourcing services. In addition, customers will benefit from SS&C's industry expertise and world-class customer service.
“DST Global Solutions is a great business with a strong management team and we believe by combining products and services, SS&C will create a powerful
differentiator in the marketplace,” said Stephen C. Hooley, Chairman and CEO of DST Systems.
SS&C will host a conference call and webcast with the financial community Tuesday, December 2 at 10:00 a.m. Eastern Time. Dial (877) 312-8798 (US and
Canada) or 253-237-1193 (International), and request the “SS&C Acquisition of DST Global Solutions” call; conference ID# 44845245. Alternatively a live
audio webcast can be accessed via http://investor.ssctech.com. A replay of the conference call will be available one hour after the conference call, for 48 hours. The
dial-in number is 855-859-2056 (US and Canada) or (404) 537-3406 (International), access code# 44845245.
DST Systems, Inc. is a leading provider of sophisticated information processing and servicing solutions to companies around the world. Through its global
enterprise, DST delivers strategically unified data management, business processing and customer communications solutions to the asset management,
brokerage, retirement, and healthcare markets. Headquartered in Kansas City, MO., DST is a publicly-traded company on the New York Stock Exchange. For more
information, visit www.dstsystems.com.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services
and software focused exclusively on the global financial services industry. Founded
in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around
the world. Some 6,900 financial services organizations, from the world’s largest
institutions to local firms, manage and account for their investments using SS&C's
products and services. These clients in the aggregate manage over $26 trillion in
Additional information about SS&C (Nasdaq:SSNC) is available at
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Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements
relating to the effects of the acquisition. These forward-looking statements are not guarantees of future performance or results and involve risks and
uncertainties, and actual results, developments and events may differ materially from those in the forward-looking statements as a result of various
factors, including those described under “Risk Factors” in our 2013 Form 10-K.
© 2014 SS&C Technologies Holdings, Inc