Dec 3 2014 | 3:31am ET
Hedge-fund administrator and software provider SS&C Technologies has struck a deal for another industry servicer.
Windsor, Conn.-based SS&C said it will pay $95 million for DST Global Solutions, which offers investment, accounting, data management and analytics platforms. DST Global, currently owned by DST Systems, has more than 150 customers and 12 offices in the Americas, Europe and Asia-Pacific.
“We view EMEA and Asia-Pacific as strategic geographies and this acquisition provides the talent, technology and client base to accelerate growth,” SS&C CEO Bill Stone said. “DST Global Solutions is a 390 person business with $60 to $65 million in annual revenues, 90% of which comes from EMEA and Asia Pacific. This $95 million dollar investment will take integration and development but we are excited about the opportunity.”
In recent years, SS&C has bolstered its hedge-fund administration business through the acquisitions of GlobeOp and Hedgematrix.
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