For Immediate Release
SS&C Technologies, Inc. to Acquire Northport, LLC
Acquisition strengthens position as leading independent fund administration service provider
WINDSOR, CT - March 13, 2007 — SS&C Technologies, Inc. (www.ssctech.com), a global provider of financial services software and outsourcing solutions, today announced that it has acquired all of the assets of New Jersey-based Northport, LLC.
Northport, LLC is the fifth SS&C acquisition in the fund administration arena representing one more expansion of SS&C's fund administration outsourcing business. Northport clients range from large firms with numerous investment vehicles to start-ups with a single fund. As an administrator devoted to the private equity community, Northport brings a concentration of experience and twenty-one skilled professionals to SS&C's fund administration offering.
"Northport is a well managed organization with a strong client base and great people who share our commitment to customer service. They are an excellent strategic fit and we view this acquisition as a milestone in the continuing growth of our fund administration business" said Rahul Kanwar, Vice President, SS&C Technologies, Inc.
"We are delighted to become part of the SS&C family." said Nancy G. Farese, Managing Partner, Northport, LLC. "Our people and processes, combined with SS&C's resources and global capabilities, will allow us to expand our service offering for our current and future clients. SS&C's robust support infrastructure and depth of product offerings will be key growth drivers."
SS&C further enhanced its fund administration business in past years through the acquisitions of Amicorp Fund Services Limited, Eisnerfast LLC, OMR Systems Corporation, and Cogent Management Inc. This transaction is not expected to be material to SS&C's financial results for 2007.About SS&C Technologies
SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry. By leveraging expertise in common investment business functions, SS&C cost-effectively serves clients in the different industry segments, including: 1) insurance entities and pension funds, 2) institutional asset management, 3) hedge funds and family offices, 4) financial institutions, 5) municipal finance, 6) real estate property management 7) commercial lending and 8) corporate treasury. Additional information is available at http://www.ssctech.com.
Chief Financial Officer