SS&C shells out $95 million for DST Global 02 December 2014Connecticut Reporter: Stephen Durham
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SS&C Technologies Holdings has acquired DST Global Solutions, a subsidiary of DST Systems, for $95 million in cash.
DST Global’s products now owned by SS&C include investment and fund accounting platform, HiPortfolio, and investment data management and analytics platform, Anova.
SS&C financed a $75 million portion of the purchase price by drawing down on its line of credit.
"We view [Europe, the Middle East and Africa] and Asia Pacific as strategic geographies and this acquisition provides the talent, technology and client base to accelerate growth," said Bill Stone, chairman and CEO of SS&C Technologies.
DST Global has 390 employees operating in 12 offices including London, Melbourne, Bangkok, Hong Kong, Shanghai and Boston.
Stephen Hooley, chairman and CEO of DST Systems, commented: “DST Global Solutions is a great business with a strong management team and we believe by combining products and services, SS&C will create a powerful differentiator in the marketplace.”
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