For Immediate Release
SS&C Technologies Finalizes Acquisition of OMR
WINDSOR, CT - April 12, 2004 — SS&C Technologies, Inc. (Nasdaq: SSNC) today announced it has closed the acquisition of OMR Systems Corporation and OMR Systems International Limited (OMR). SS&C purchased the outstanding stock of both subsidiaries from ADP Financial Information Services, Inc for $19.7 million in cash.
OMR provides treasury processing software and outsourcing solutions to banks and offers comprehensive hedge fund administration. OMR's TradeThru™ software is a multi-bank, multi-currency and multi-entity straight-through processing system, delivering fully automated, front-to-back office functionality. SS&C intends to include the TradeThru business in its financial institutions business. OMR's Xacct™ service provides hedge funds and other alternative investment managers with a scalable, back-office solution and will become part of the suite of products and services offered by SS&C's hedge fund and family office business.About SS&C Technologies, Inc.
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) 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