For Immediate Release
SS&C Technologies Acquires MarginMan™ Business from Integral
Establishes Presence in Ireland and Expands Depth in FX Market
WINDSOR, CT - August 24, 2005 — SS&C Technologies, Inc. (NASDAQ: SSNC) today announced the acquisition of the assets and business of MarginMan, a business within Integral Development Corp., for $5.6 million in cash and the assumption of certain liabilities. MarginMan delivers collateralized trading software to many of the leading players in the foreign exchange (FX) marketplace. MarginMan fully supports collateralized FX trading, precious metals trading and over-the-counter FX options trading.
SS&C Chairman and CEO Bill Stone commented, "We are excited about this acquisition. FX markets continue to expand as global financial institutions increasingly use collateral to control credit and manage their risk. The acquisition of MarginMan complements our existing portfolio of products and services and gives us an immediate presence in Ireland."
Jim Duffy was one of the co-founders of MarginMan in 1992, and will manage the business unit as Vice President and General Manager of SS&C's Ireland subsidiary. "Our clients include many of the leading players in the global FX marketplace, and we look forward to continuing to provide them with a top-tier risk relationship management solution. We are excited about joining SS&C. The strength, depth and market reach of SS&C will expand our opportunities to grow in an accelerating market."
Colleen Nelsen, SS&C's Senior Vice President, Financial Institutions, stated, "In the past few years, SS&C has decisively grown its capital markets business, and offers a broad slate of products and services. MarginMan adds to our offerings by supporting the unique needs of the collateralized trading market. We see strong synergies between TradeThru and MarginMan, including market expertise, technology interfaces and expanded client opportunities." 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) financial institutions, 2) hedge funds and family offices, 3) institutional asset management, 4) insurance entities and pension funds, 5) municipal finance, 6) commercial lending, and 7) real estate property management. SS&C is publicly traded on NASDAQ under the symbol "SSNC". Additional information on SS&C is available at www.ssctech.com.
Chief Financial Officer