Monday, 28 July 2014
Last updated 3 hours ago
Oct 1 2012 | 6:40am ET
SS&C Technologies continues to grow by acquisition with a deal for hedge fund administrator Gravity Financial.
The Windsor, Conn.-based firm announced Friday that it bought the Canton, Mass.-based firm. The acquisition adds 40 customers and 10 staff members to SS&C's SS&C GlobeOp business, the result of SS&C's acquisition of GlobeOp Financial Services in May.
Terms of the Gravity deal were not disclosed.
Both of Gravity's founding partners, Kirby Richards and Paul Timmins, have joined SS&C GlobeOp and will continue to run the Gravity business.
"SS&C's financial strength, combined with its fund services and innovative solutions, presents tremendous value to our clients," Richards said. "We are excited about joining the exceptional team at SS&C and further building our business."
"This acquisition expands our fund services capabilities with a talented group of professionals," SS&C CEO Bill Stone added. "The acquisition is well-aligned to our overall corporate strategy and will enable us to add further value to clients in the Northeast."
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…