Acquisition Strengthens Portfolio Management Suite
WINDSOR, Conn., May 9, 2012 (GLOBE NEWSWIRE) -- SS&C Technologies
Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services
software and software-enabled services, today announced the completion
of its acquisition of the assets of Thomson Reuters' PORTIA(R)
business, including an industry leading middle-to-back office
investment operations platform, pursuant to the terms of its definitive
asset purchase agreement with Thomson Reuters. The asset purchase
agreement was previously announced on February 29, 2012.
SS&C's acquisition of the PORTIA business adds a comprehensive platform
of middle-to-back office capabilities allowing investment managers to
track and manage day-to-day portfolio activity. PORTIA will complement
SS&C's existing solutions. The acquisition adds 140 staff in Boston,
Bangalore, London, Hong Kong, Singapore, Tokyo and Bangkok. SS&C
expects that, for the remainder of 2012, the PORTIA acquisition will
increase SS&C's revenue by $24.5 to $25.5 million and that the Adjusted
Consolidated EBITDA attributable to PORTIA will be 44 percent to 46
percent of its revenues.
Around the world, SS&C will host events and will provide an opportunity
for PORTIA and SS&C customers to hear from SS&C and PORTIA management
and see demonstrations of our latest innovations. For more information
on these events, please contact Wils Cain at firstname.lastname@example.org.
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.
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Additional information about SS&C (Nasdaq:SSNC) is available at
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CONTACT: Patrick Pedonti
Chief Financial Officer