For Immediate Release
SS&C Technologies, Inc. Announces Acquisition of Cogent Management Inc.
WINDSOR, CT - March 6, 2006 — SS&C Technologies, Inc. (www.ssctech.com), a global provider of financial services software and outsourcing solutions, announced the purchase of all the outstanding stock of Cogent Management Inc., for $12.25 million in cash.
Cogent, headquartered in New Rochelle, New York, provides hedge fund management services with a particular emphasis on U.S.-based hedge funds. Cogent employs 21 people in its New Rochelle facility and delivers services to over 200 hedge funds.
Commenting on the acquisition, SS&C's Chairman and CEO, Bill Stone said, "Pat Marron, Steve Zuch and Gerard Federici have built a quality business, with highly referenceable clients, in an industry SS&C has a strategic interest in. We are happy to welcome these three executives and their staff of experienced and talented professionals. Cogent will be integrated into our hedge and family wealth business, which has existing operations in New York City, Armonk, NY, Skillman, NJ, Curacao, London and Toronto."
In response to being acquired, Pat Marron, a founder and the Chief Executive of Cogent, said, "We here at Cogent believe we have found a great partner with impressive resources, expertise, and commitment to the hedge fund industry. These credentials will serve us well as we continue to offer quality service to our clients. SS&C has moved quickly and forthrightly to buy our business, and we look forward to their future investment in the business and are excited about our expanded opportunities for growth. Steve, Gerard and I will continue to be managers of the business as we work with the entire SS&C team."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 $7 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 several industry segments, including: 1) hedge funds and family offices, 2) institutional asset management, 3) insurance entities and pension funds, 4) financial institutions, 5) corporate treasury, 6) commercial lending, 7) municipal finance, and, 8) real estate property management. Additional information is available at www.ssctech.com.
Chief Financial Officer