New York (HedgeCo.Net) – Hedge fund software giant, SS&C Technologies Holdings, has acquired DST Global Solutions Ltd., a subsidiary of DST Systems, Inc., for $95 million in cash.

DST Global’s products now owned by SS&C include industry-leading investment and fund accounting platform, HiPortfolio®, and investment data management and analytics platform, Anova. SS&C financed a $75 million portion of the purchase price by drawing down on its line of credit.

With more than 155 customers throughout the Americas, EMEA, and Asia-Pacific, the DST Global products complement SS&C’s existing portfolio of technology capabilities and service offerings. The acquisition further solidifies SS&C’s position as the leading global provider of investment management software and outsourcing services.

DST Global has 390 employees operating in 12 offices including London, Melbourne, Bangkok, Hong Kong, Shanghai and Boston.

“We view EMEA and Asia Pacific as strategic geographies and this acquisition provides the talent, technology and client base to accelerate growth,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “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.”

“DST Global Solutions is a great business with a strong management team and we believe by combining products and services, SS&C will create a powerful differentiator in the marketplace,” said Stephen C. Hooley, Chairman and CEO of DST Systems.

Editing by Alex Akesson
For HedgeCo.net
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