SS&C Technologies

SS&C Technologies Holdings, Inc. (known as SS&C) is an American multinational holding company headquartered in Windsor, Connecticut, that sells software and software as a service to the financial services industry. The company has offices in the Americas, Europe, Asia, Africa and Australia.[2][3]

SS&C Technologies Holdings, Inc.
TypePublic company
IndustryFinancial Technology Software Products
FoundedMarch 1, 1986 (1986-03-01)
Windsor, Connecticut as Security Software & Consulting Inc.
FoundersWilliam C. Stone
HeadquartersWindsor, Connecticut, U.S.
Area served
Worldwide
Key people
ProductsSoftware enabled services
RevenueIncrease US$5.051 billion (2021)
Increase US$1.242 billion (2021)
Increase US$800 million (2021)
Total assetsIncrease US$17.33 billion (2021)
Total equityIncrease US$6.23 billion (2021)
Number of employees
24,900 (December 2021)
Websitewww.ssctech.com
Footnotes / references
[1]

Through its numerous acquired subsidiaries, such as Advent Software, Varden Technologies, Eze Software, and Primatics Financial, SS&C specializes in specific fintech markets, such as fund administration, wealth management accounting, and insurance and pension funds. In 2020 SS&C Technologies reported in their balance sheet over $1.69 trillion in Assets Under Custody (AUC).

History

SS&C was founded by William C. Stone in 1986.[4] The company went through an initial public offering process for the first time in 1996.[5] It was taken private in a leveraged buy-out in 2005 with Sunshine Acquisition Corp., affiliated with The Carlyle Group.[6][7][8] And after some years as a private company, SS&C was taken public again in a second IPO in 2010 through a listing on Nasdaq under the symbol SSNC.[8]

In 2021, Mammoth Scientific selected SS&C as the administrator and technology partner for its $100 million venture capital fund.[9] The fund is for health science and technology companies.[9] In October, Gordian Capital started using the company’s Eze Investment Suite for its trading, portfolio, and risk management services in Singapore and Japan.[10]

In May 2022, Liontrust Asset Management extended its mandate with SS&C.[11] The company uses SS&C’s products to manage the majority of its £38.5 billion in assets.[11]

In June, SS&C released a new asset allocator platform for institutional investors.[12] It was powered by FundHub and provided fund data aggregation and analysis, holdings look-through, document management, ABOR and IBOR reporting, performance management, liquidity planning, and exposure analysis.[12]

Acquisitions

SS&C Technologies acquired a variety of companies to bring products and talent into the company. Since 1995, it has acquired more than 50 companies.

Company Industry/Service Year Source
Shepro Braun Investment software 1997 [13]
Mabel Systems Portfolio management 1997 [14]
Quantra Real estate equity and debt investment management 1998 [15]
HedgeWare, Inc. Portfolio, tax accounting and financial partnership software 1999 [16][17]
Digital Visions assets of Netzee Inc. Internet banking products and services and internet commerce products 2001 [18]
Amicorp Fund Services Fund administration 2003 [19]
Investment Advisory Network, LLC Financial portfolio manager 2004 [20]
NeoVision Hypersystems, Inc. Financial data and analytics/trading activity and customer portfolio performance 2004 [21]
OMR Systems Treasury processing software and outsourcing solutions 2004 [22]
Financial Models Company, Inc. Technology solutions and services for investments 2005 [23]
Eisnerfast Fund accounting 2005 [24]
Financial Interactive CRM and fund profiling software 2005 [24]
MarginMan Collateralized trading software 2005 [25]
Open Information Systems Web-based support applications for financial institutions 2005 [26]
Cogent Management Hedge fund management services 2006 [27]
Zoologic Education software 2006 [28]
Northport, LLC Fund administration 2007 [29]
Micro Design Services, LLC Software design and development 2008 [30]
Evare, LLC Managed utility service provider for financial data 2009 [31]
MAXIMIX business from Unisys Investment accounting software 2009 [32]
TheNextRound, Inc. Software developer for private equity and alternative investments 2009 [33]
Tradeware Global Broker-neutral system provider for equity market access 2010 [34]
Geller Investment Partnership Services Investment partnership services 2010 [35]
TD Ameritrade's Thinklink Product Order management software 2010 [36]
BDO Simpson Xavier Fund Administration Services Limited Fund administrator 2011 [37]
Teledata Communications, Inc. software assets Background-search and credit-retrieval software and services 2011 [38]
Hedgemetrix Back-office services for alternative investment funds 2012 [39]
Thomson Reuters' PORTIA Middle-to-back office investment operations platform 2012 [40]
GlopeOp Financial Services S.A. Fund services 2012 [41]
Gravity Financial Fund administrator 2012 [42]
Prime Management Limited Fund administrator 2013 [43]
DST Global Solutions Investment and fund management and analytics 2014 [44]
Advent Software Financial services 2015 [45][46]
Varden Technologies Software communication solutions 2015 [47]
Primatics Financial Accounting, forecasting, regulatory reporting, reserving and stress testing 2015 [48]
Modestspark Client portal and digital client experience tools 2017 [49]
DST Systems Information processing and software 2018 [50][51]
Eze Software Investment software 2018 [52]
Intralinks Financial technology 2018 [53]
Algorithmics Financial risk management 2019 [54]
MineralWare Cloud-based asset management platform 2022 [55]
Blue Prism Group, PLC Robotic process automation 2022 [56]

Services and Subsidiaries

SS&C Fund Services

SS&C Fund Services offers fund administration services for hedge funds, funds of funds, private equity funds and managed account managers. Rahul Kanwar, Senior Vice President and Managing Director is a key executive for SS&C Fund Services.[57]

SS&C GlobeOp Investor Services

SS&C GlobeOp is a fund administrator offering financial technology products and services.[58]

SS&C Global Wealth Management

The SS&C Global Wealth Platform offers secured web-based multi-currency wealth management aimed to support all aspects of investment management.[59]

SS&C Skyline

SS&C Skyline is an accounting system designed for property management functions.[60] The property management software can be used as a marketing platform that helps users find new tenants through common rental websites and online applications.[61]

SS&C BenefiX

BenefiX is SS&C's product to employee benefits data management and exchange. It is a cloud-based data exchange service that transforms, translates and transmits employee benefits data to insurance carriers and administrators.[62]

References
  1. "SS&C Technologies Holdings, Inc. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 25 February 2022.
  2. "SS&C Technologies, Inc.: Private Company Information - Bloomberg". Bloomberg News. Retrieved January 25, 2017.
  3. "SS&C Technologies, Inc.: About Us: Offices". Retrieved June 4, 2019.
  4. Cassady, Pam. "William Stone founder of SS&C Technologies continues to support his hometown". Courier & Press. Retrieved 2022-10-25.
  5. "SSNC Share Price and News / SS&C Technologies Holdings, Inc. (NASDAQ)". fintel.io. Retrieved 2022-10-25.
  6. "The Carlyle Group Completes Acquisition Of SS&C Technologies, Inc. - Global Custodian". www.globalcustodian.com. Retrieved 2022-10-25.
  7. "SS&C Technologies sells to the Carlyle Group for $941M". www.bizjournals.com. Retrieved 2022-10-25.
  8. Cowan, Lynn (28 March 2010). "IPO Outlook: SS&C Technologies Set to Close Out March IPOs". Wall Street Journal. Retrieved 2022-10-25.
  9. "Mammoth Scientific selects SS&C for inaugural VC Fund". Private Equity Wire. 2021-10-05. Retrieved 2022-11-08.
  10. Lomax, Asset Servicing Times reporter Jenna. "Gordian Capital picks SS&C Technologies' Eze". www.assetservicingtimes.com. Retrieved 2022-11-30.
  11. Lomax, Asset Servicing Times reporter Jenna. "Liontrust Asset Management renews contract with SS&C Technologies". www.assetservicingtimes.com. Retrieved 2022-11-30.
  12. "SS&C targets institutional investors with new asset allocator platform - Global Custodian". www.globalcustodian.com. Retrieved 2022-12-15.
  13. "Shepro Braun Systems, Acquired by SS&C Technologies Holdings, Inc. on December 12th, 1997 | Mergr". mergr.com. Retrieved 2022-11-21.
  14. "Mabel Systems BV, Acquired by SS&C Technologies Holdings, Inc. on January 1st, 1997 | Mergr". mergr.com. Retrieved 2022-11-21.
  15. "Choosing the right software for multifamily property managers". Wealth Management. 1998-05-01. Retrieved 2022-11-21.
  16. "SS&C Plans To Adapt Hedgeware's Front-End Interface For All Products". WatersTechnology.com. 1999-04-12. Retrieved 2022-11-21.
  17. "FOCUS ON: SS&C TECHNOLOGIES INC". Hartford Courant. 15 April 1999. Retrieved 2022-11-21.
  18. "Netzee sells Digital Vision to SS&C Technologies". Nov 16, 2001.
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  20. Annual report 2007
  21. "Investment-Technology Newsflashes". Wall Street & Technology. Retrieved 2022-11-21.
  22. "Financial software firm SS&C buys OMR Systems for $20M". March 15, 2004.
  23. "FMC was acquired by SS&C | Recent | Transactions | Boutique Investment Bank, Financial Technology | Marlin & Associates | Boutique Investment Bank, Technology Investment Bank, Healthcare Market Analysis, Technology Consulting Advisor, Financial Technology". www.marlinllc.com. Retrieved 2022-11-21.
  24. Writer, CBR Staff (2005-05-17). "SS&C buys Financial Interactive". Tech Monitor. Retrieved 2022-11-23.
  25. "SS&C buys foreign exchange trading software business from Integral". August 22, 2005.
  26. "SS&C adds Open Information Systems to wave of acquisitions". October 31, 2005.
  27. "SS&C collects Cogent Management for $12M cash". www.bizjournals.com. Retrieved 2022-11-30.
  28. "SS&C picks up Zoologic for $2.5M". www.bizjournals.com. Retrieved 2022-11-30.
  29. "SS&C Tech buys assets of N.J. firm". www.bizjournals.com. Retrieved 2022-11-30.
  30. "SS&C acquires Micro Design Services". www.bizjournals.com. Retrieved 2022-11-30.
  31. "SS&C Technologies Holdings Acquires Evare | Mergr M&A Deal Summary". mergr.com. Retrieved 2022-12-02.
  32. "SS&C acquires assets of Maximis software from Unisys". Tech Monitor. 2009-06-01. Retrieved 2022-12-02.
  33. "SS&C buys TheNextRound". www.bizjournals.com. Retrieved 2022-12-02.
  34. "SS&C Technologies Holdings Acquires Tradeware Global | Mergr M&A Deal Summary". mergr.com. Retrieved 2022-12-02.
  35. Annual report 2010
  36. Lang, Michelle (October 7, 2010). "SS&C buys Thinklink financial services biz". Boston Business Journal.
  37. "SS&C Announces Closing of BDO Simpson Xavier Fund Administration Services - Global Custodian". www.globalcustodian.com. Retrieved 2022-12-21.
  38. "SS&C Acquires Background-Search Software From Teledata". Hartford Courant. 27 December 2011. Retrieved 2022-12-21.
  39. Bounds, Jeff (October 19, 2012). "SS&C Technologies to buy Hedgemetrix".
  40. "Analysis: SS&C Buys Portia | FTF News - Part 3608". www.ftfnews.com. Retrieved 2022-12-21.
  41. "SS&C Technologies buys GlobeOp Financial Services for £572 mln". Proactiveinvestors NA. 2012-06-27. Retrieved 2022-12-21.
  42. "Windsor-based SS&C Acquires Mass.-based Gravity Financial". Hartford Courant. 28 September 2012. Retrieved 2023-01-06.
  43. "SS&C Technologies Holdings Acquires Prime Management Limited | Mergr M&A Deal Summary". mergr.com. Retrieved 2023-01-06.
  44. Reporter; Reporter (2014-12-02). "SS&C acquires DST Global Solutions". www.investordaily.com.au. Retrieved 2023-01-06.
  45. Merced, Michael J. de la (2015-02-02). "SS&C to Buy Advent Software for $2.3 Billion". DealBook. Retrieved 2023-01-06.
  46. Capital, Alpha Gen (10 February 2015). "SS&C Technologies: Advent Acquisition A Game Changer (NASDAQ:SSNC) | Seeking Alpha". Seeking Alpha. Retrieved 2023-01-06.
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  48. "SS&C to Acquire Primatics for $122M | FTF News - Part 8409". www.ftfnews.com. Retrieved 2023-01-06.
  49. "SS&C Acquires Client Portal Vendor Modestspark". Wealth Management. 2017-11-03. Retrieved 2023-01-19.
  50. "DST Systems Inc - Company Profile and News". Bloomberg.com. Retrieved 2023-01-19.
  51. "SS&C boosts banking software heft with $5.4 billion DST deal". Reuters. 2018-01-11. Retrieved 2023-01-19.
  52. "SS&C plans to acquire Boston software co. for $1.4B | Hartford Business Journal". Retrieved 30 March 2023.
  53. Visconti, Ambrogio. "SS&C Technologies Holdings' $1.5 billion acquisition of Intralinks Holdings, Inc". Retrieved 2023-01-19.
  54. Tsidulko, Joseph (2019-09-25). "IBM To Sell Algorithmics Portfolio To SS&C". CRN. Retrieved 2023-01-19.
  55. "SS&C Technologies Acquires MineralWare for $18M". May 16, 2022.
  56. "Britain's Blue Prism agrees to $1.65 bln takeover by SS&C, snubs Vista". Reuters. 2021-12-01. Retrieved 2023-01-19.
  57. "SS&C Stocks". Bloomberg. January 26, 2017. Retrieved January 25, 2017.
  58. "SS&C GlobeOp Investor Services". Bobsguide. Retrieved January 25, 2017.
  59. "SS&C's Anniversary coincides global wealth platform launch in Asia". NBC News. 2011-03-14. Retrieved January 25, 2017.
  60. "Accounting for Skyline". Retrieved January 25, 2017.
  61. "Skyline Review, 2017 - Top Ten Reviews". Retrieved January 25, 2017.
  62. "BenefiX - swipx". Retrieved January 26, 2017.
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