SS&C Closes Deal For GlobeOp

Jun 27 2012 | 1:23pm ET

Financial services software specialist SS&C Technologies has officially acquired London-based GlobeOp Financial Services for approximately £572 million ($897 million).

GlobeOp provides independent fund services, specializing in middle and back office services and integrated risk-reporting to hedge funds, asset management firms and other sectors of the financial industry. 

A full 99.95% of the holders of GlobeOp’s outstanding shares have accepted Windsor, CT-based SS&C’s offer and the purchasing firm has initiated a “squeeze-out” procedure, under Luxembourg law, to acquire the remaining shares on the same terms as the offer (£4.85 per share).

"This is an exciting day for SS&C and GlobeOp and for the clients we serve," said Bill Stone, SS&C chairman and chief executive officer. "We have already begun our integration and are coordinating on sales and marketing and we have significant synergies. Together, we are a global leader, with the capability to serve our clients—whatever their size, location or sector—with one of the most comprehensive and competitive technology and services portfolios in the investment management industry."

SS&C outbid private equity giant TPG Capital in February by more than 11% for GlobeOp.

The combined entity will provide services to over 6,700 funds with total assets under administration of $424 billion.
 

 


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of