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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of