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DGAP-News: SS&C to Acquire Thomson Reuters PORTIA Business
ID: 584865
(firmenpresse) - SS&C Technologies
29.02.2012 14:00
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Acquisition Strengthens SS&C's Portfolio Management Suite
WINDSOR, Conn., 2012-02-29 14:00 CET (GLOBE NEWSWIRE) --
SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial
services software and software-enabled services, today announced it has entered
into a definitive agreement to acquire Thomson Reuters PORTIA business, an
industry leading middle-to-back office investment operations platform, for $170
million. The transaction is scheduled to close in the second quarter of 2012,
subject to regulatory approval and satisfaction of customary closing
conditions.
PORTIA provides a broad set of middle-to-back office capabilities that allow
investment managers to track and manage the day-to-day activity in their
investment portfolios. Its offering will complement SS&C's existing solutions
portfolio, and build upon SS&C's history of success in financial technology
development. The acquisition adds over 140 staff across locations in Boston,
Bangalore, London, Hong Kong, Singapore, Dubai, Tokyo and Bangkok. Christy
Bremner, President, PORTIA, will continue in her current leadership role.
'Joining SS&C is a great opportunity for the long-term success of our business.
The commercial synergies of the deal should drive growth and investment for our
business, and deliver significant incremental value to our clients,' said
Christy Bremner, President, PORTIA. 'We have a highly talented team, with an
impressive track record, excellent product offerings, and loyal customers and
as part of SS&C, we will be better positioned to deliver innovation to the
global financial markets community.'
'This deal significantly adds to our offerings in the portfolio management
software industry,' said Bill Stone, Chairman and Chief Executive Officer, SS&C
Technologies Holdings, Inc.' We look forward to working with Christy and her
team to expand our offerings to the global financial services industry. We have
a strong history of acquiring complementary businesses as part of our overall
growth strategy and expect this to be accretive in 2012.'
About PORTIA
PORTIA provides a broad set of middle-to-back office capabilities that allow
investment managers to track and manage the day-to-day activity in investment
portfolios required to support global accounting requirements. Offered on a
deployed and hosted basis, the solution supports a broad range of functions
including corporate action processing, internal, client and regulatory
reporting, performance measurement and attribution and post trade compliance.
PORTIA is the choice of investment managers in over 40 countries who manage
assets totaling more than US $10 trillion.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services
and software focused exclusively on the global financial services industry.
Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices
around the world. 5,000 financial services organizations, from the world's
largest to local financial services organizations, manage and account for their
investments using SS&C's products and services. These clients in the aggregate
manage over $16 trillion in assets.
Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
Follow SS&C on Twitter, Linkedin and Facebook.
The SS&C Technologies logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8587
CONTACT: Patrick Pedonti
Chief Financial Officer
Tel: +1-860-298-4738
E-mail: InvestorRelations(at)sscinc.com
News Source: NASDAQ OMX
29.02.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: SS&C Technologies
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901258254
WKN:
End of Announcement DGAP News-Service
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Datum: 29.02.2012 - 14:00 Uhr
Sprache: Deutsch
News-ID 584865
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