WINDSOR, Conn.–(BUSINESS WIRE)–Dec. 15, 2003–SS&C Technologies, Inc. (Nasdaq: SSNC) today announced that it has acquired Amicorp Group’s fund administration line of business for $1.8 millionin cash and the assumption of certain liabilities. The fund administration business, to be named SS&C Fund Services N.V., will be headquartered in Curacao, the Netherlands Antilles. SS&C FundServices will serve the fund community with both on and offshore services, including transfer agency, net asset valuation, account control and reconciliation, set up of investment funds, maintenanceof corporate vehicles and customer service management.
SS&C Chairman and CEO Bill Stone commented, “We are excited about the opportunities this acquisition provides. We have strengthened our expertise in administration and added it to our strong technology. This is a powerful combination and positions us to become a premier provider to the global fund community. We expect this acquisition to be accretive in 2004.”
Ward McGraw, Senior Vice President of SS&C’s Hedge and Family Office market vertical stated, “We are pleased to announce the appointment of Eric Andersen as Vice President and Managing Director of SS&C Fund Services. We also expect the Amicorp fund administration (AFS) staff will be joining SS&C. The acquisition of the AFS business and staff has provided us with a significant opportunity to broaden our reach into the global hedge fund market. Today, the competitive advantage rests with fund administrators that offer complete fund services, backed by world-class expertise and technology. SS&C Fund Services now has this complete solution, and we are eager to start introducing it to the entire fund community.”
About SS&C Technologies, Inc.
SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry. With a global client base that manages over $4 trillion in assets, each of the products in SS&C’s suite of highly specialized solutions is in the top tier of competitive offerings in the marketplace. By leveraging expertise in common investment business functions, SS&C cost-effectively serves clients in the different industry segments, including: 1) commercial lending, 2) financial institutions, 3) hedge funds and family offices, 4) insurance entities and pension funds, 5) institutional asset management, 6) municipal finance and 7) real estate property management. SS&C is publicly traded on NASDAQ under the symbol “SSNC”. Additional information is available at www.ssctech.com.
This press release contains forward-looking statements relating to the expectation that the AFS acquisition will be accretive to earnings in 2004, and such statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated are delays, difficulties or unexpected costs in integrating the operations and personnel of the two businesses, the potential disruption to SS&C’s ongoing business associated with the AFS acquisition, customer demand for additional products and services, market fluctuations, general economic conditions, and the risk factors detailed from time to time in SS&C’s periodic reports and registration statements filed with the Securities and Exchange Commission, including without limitation SS&C’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2003. SS&C cautions investors that it may not update any or all of the foregoing forward-looking statements.
