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SS&C acquires DST Global Solutions

HTML codeSS&C Technologies Holdings has acquired DST Global Solutions, a subsidiary of software development firm DST Systems, for $95 million (€76.2 million).

A number of DST Global's products will now be owned by SS&C, including the investment and fund accounting platform, HiPortfolio, and the investment data management and analytics platform, Anova.

SS&C, a global provider of investment and financial software-enabled services, financed $75 million of the purchase price by drawing down on its line of credit.

The company hopes to benefit from DST Global's broad client base, across the Americas, Europe, the Middle East and Asia-Pacific.

Bill Stone, chairman and chief executive officer, SS&C Technologies, says that the investment will require integration and development but is an exciting opportunity.

He adds: "We view Emea [Europe, Middle East and Africa] and Asia Pacific as strategic geographies and this acquisition provides the talent, technology and client base to accelerate growth."

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