For Immediate Release
SS&C Technologies Announces Acquisition of the Assets of NeoVision Hypersystems, Inc.
Expands Real-time Offerings for Monitoring Trade Executions
WINDSOR, CT - February 18, 2004 — SS&C Technologies, Inc. (Nasdaq: SSNC) today announced it has acquired substantially all of the assets of NeoVision Hypersystems, Inc. (NeoVision) for $1.6 million in cash and the assumption of certain liabilities. NeoVision's products give portfolio managers, traders, and brokers detailed views of trading activity and customer portfolio performance, allowing them to quickly spot, assess and take appropriate action based on real-time financial information and positions. NeoVision's software solutions use color, sound, animation and pattern to integrate vast amounts of financial data and analytics into dynamic, visual color displays.
SS&C Chairman and CEO Bill Stone commented, "The acquisition of NeoVision adds another layer of product offerings we can now provide the trading community. In today's trading environment, information overload makes it difficult to act quickly. NeoVision technology allows portfolio managers, traders, and brokers to rapidly digest huge amounts of financial data and uses powerful visual cues to help them track, analyze and understand thousands of positions instantly."
Ed McGuinn, President and CEO of NeoVision stated, "NeoVision's Heatmaps® products allow financial institutions to enhance the productivity of their traders, expedite price discovery and spot realized and unrealized opportunities instantly and across hundreds of positions - all at a glance. I am confident NeoVision's products will contribute to SS&C's ability to provide a full slate of leading-edge technology solutions to the trading industry."About SS&C Technologies, Inc.
SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry. With a global client base that manages over $4 trillion in assets, each of the products in SS&C's suite of highly specialized solutions is in the top tier of competitive offerings in the marketplace. By leveraging expertise in common investment business functions, SS&C cost-effectively serves clients in the different industry segments, including: 1) commercial lending, 2) financial institutions, 3) hedge funds and family offices, 4) insurance entities and pension funds, 5) institutional asset management, 6) municipal finance and 7) real estate property management. SS&C is publicly traded on NASDAQ under the symbol "SSNC". Additional information is available at www.ssctech.com.
Chief Financial Officer