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SS&C Technologies

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SS&C Technologies Holdings, Inc.
Company typePublic
IndustryFinancial Technology Software Products
FoundedMarch 1, 1986; 38 years ago (1986-03-01), in 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)
Websitessctech.com
Footnotes / references
[1]

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]

Through its numerous acquired subsidiaries, such as Advent Software, Varden Technologies, Eze Software, Intralinks, 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).[4][5]

History

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SS&C was founded by William C. Stone in 1986.[6] The company went through an initial public offering process for the first time in 1996.[7] It was taken private in a leveraged buyout in 2005 with Sunshine Acquisition Corp., affiliated with The Carlyle Group.[8][9][10] 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.[10]

In 2021, Mammoth Scientific selected SS&C as the administrator and technology partner for its $100 million venture capital fund.[11] The fund is for health science and technology companies.[11] In October, Gordian Capital started using the company’s Eze Investment Suite for its trading, portfolio, and risk management services in Singapore and Japan.[12]

In May 2022, Liontrust Asset Management extended its mandate with SS&C.[13] The company uses SS&C’s products to manage the majority of its £38.5 billion in assets.[13]

In June, SS&C released a new asset allocator platform for institutional investors.[14] 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.[14]

Acquisitions

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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 [15]
Mabel Systems Portfolio management 1997 [16]
Quantra Real estate equity and debt investment management 1998 [17]
HedgeWare, Inc. Portfolio, tax accounting and financial partnership software 1999 [18][19]
Digital Visions assets of Netzee Inc. Internet banking products and services and internet commerce products 2001 [20]
Amicorp Fund Services Fund administration 2003 [21]
Investment Advisory Network, LLC Financial portfolio manager 2004 [22]
NeoVision Hypersystems, Inc. Financial data and analytics/trading activity and customer portfolio performance 2004 [23]
OMR Systems Treasury processing software and outsourcing solutions 2004 [24]
Financial Models Company, Inc. Technology solutions and services for investments 2005 [25]
Eisnerfast Fund accounting 2005 [26]
Financial Interactive CRM and fund profiling software 2005 [26]
MarginMan Collateralized trading software 2005 [27]
Open Information Systems Web-based support applications for financial institutions 2005 [28]
Cogent Management Hedge fund management services 2006 [29]
Zoologic Education software 2006 [30]
Northport, LLC Fund administration 2007 [31]
Micro Design Services, LLC Software design and development 2008 [32]
Evare, LLC Managed utility service provider for financial data 2009 [33]
MAXIMIS business from Unisys Investment accounting software 2009 [34]
TheNextRound, Inc. Software developer for private equity and alternative investments 2009 [35]
Tradeware Global Broker-neutral system provider for equity market access 2010 [36]
Geller Investment Partnership Services Investment partnership services 2010 [37]
TD Ameritrade's Thinklink Product Order management software 2010 [38]
BDO Simpson Xavier Fund Administration Services Limited Fund administrator 2011 [39]
Teledata Communications, Inc. software assets Background-search and credit-retrieval software and services 2011 [40]
Hedgemetrix Back-office services for alternative investment funds 2012 [41]
Thomson Reuters' PORTIA Middle-to-back office investment operations platform 2012 [42]
GlopeOp Financial Services S.A. Fund services 2012 [43]
Gravity Financial Fund administrator 2012 [44]
Prime Management Limited Fund administrator 2013 [45]
DST Global Solutions Investment and fund management and analytics 2014 [46]
Advent Software Financial services 2015 [47][48]
Varden Technologies Software communication solutions 2015 [49]
Primatics Financial Accounting, forecasting, regulatory reporting, reserving and stress testing 2015 [50]
Modestspark Client portal and digital client experience tools 2017 [51]
DST Systems Information processing and software 2018 [52][53]
Eze Software Investment software 2018 [54]
Intralinks Financial technology 2018 [55]
Algorithmics Financial risk management 2019 [56]
MineralWare Cloud-based asset management platform 2022 [57]
Blue Prism Group, PLC Robotic process automation 2022 [58]
Tier1 CRM Capital markets CRM 2022 [59]

Services and Subsidiaries

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SS&C Fund Services

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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.[60]

SS&C GlobeOp Investor Services

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SS&C GlobeOp is a fund administrator offering financial technology products and services.[61]

SS&C Global Wealth Management

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The SS&C Global Wealth Platform offers secured web-based multi-currency wealth management aimed to support all aspects of investment management.[62]

SS&C Skyline

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SS&C Skyline is an accounting system designed for property management functions.[63] The property management software can be used as a marketing platform that helps users find new tenants through common rental websites and online applications.[64]

SS&C BenefiX

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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.[65]

References

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  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. ^ "SSNC | SS&C Technologies Holdings Inc. Annual Balance Sheet - WSJ". www.wsj.com. Retrieved 2024-04-09.
  5. ^ "SS&C Technologies Holdings, Inc. (SSNC) Balance Sheet - Yahoo Finance". finance.yahoo.com. Retrieved 2024-04-09.
  6. ^ Cassady, Pam. "William Stone founder of SS&C Technologies continues to support his hometown". Courier & Press. Retrieved 2022-10-25.
  7. ^ "SSNC Share Price and News / SS&C Technologies Holdings, Inc. (NASDAQ)". fintel.io. Retrieved 2022-10-25.
  8. ^ "The Carlyle Group Completes Acquisition Of SS&C Technologies, Inc. - Global Custodian". www.globalcustodian.com. Retrieved 2022-10-25.
  9. ^ "SS&C Technologies sells to the Carlyle Group for $941M". www.bizjournals.com. Retrieved 2022-10-25.
  10. ^ a b Cowan, Lynn (28 March 2010). "IPO Outlook: SS&C Technologies Set to Close Out March IPOs". Wall Street Journal. Retrieved 2022-10-25.
  11. ^ a b "Mammoth Scientific selects SS&C for inaugural VC Fund". Private Equity Wire. 2021-10-05. Retrieved 2022-11-08.
  12. ^ Lomax, Asset Servicing Times reporter Jenna. "Gordian Capital picks SS&C Technologies' Eze". www.assetservicingtimes.com. Retrieved 2022-11-30.
  13. ^ a b Lomax, Asset Servicing Times reporter Jenna. "Liontrust Asset Management renews contract with SS&C Technologies". www.assetservicingtimes.com. Retrieved 2022-11-30.
  14. ^ a b "SS&C targets institutional investors with new asset allocator platform - Global Custodian". www.globalcustodian.com. Retrieved 2022-12-15.
  15. ^ "Shepro Braun Systems, Acquired by SS&C Technologies Holdings, Inc. on December 12th, 1997 | Mergr". mergr.com. Retrieved 2022-11-21.
  16. ^ "Mabel Systems BV, Acquired by SS&C Technologies Holdings, Inc. on January 1st, 1997 | Mergr". mergr.com. Retrieved 2022-11-21.
  17. ^ "Choosing the right software for multifamily property managers". Wealth Management. 1998-05-01. Retrieved 2022-11-21.
  18. ^ "SS&C Plans To Adapt Hedgeware's Front-End Interface For All Products". WatersTechnology.com. 1999-04-12. Retrieved 2022-11-21.
  19. ^ "FOCUS ON: SS&C TECHNOLOGIES INC". Hartford Courant. 15 April 1999. Retrieved 2022-11-21.
  20. ^ "Netzee sells Digital Vision to SS&C Technologies". Nov 16, 2001.
  21. ^ "SS&C Technologies to acquire Amicorp fund admin business | Hedgeweek". Hedgeweek. 2003-10-29. Retrieved 2022-11-21.
  22. ^ Annual report 2007
  23. ^ "Investment-Technology Newsflashes". Wall Street & Technology. Retrieved 2022-11-21.
  24. ^ "Financial software firm SS&C buys OMR Systems for $20M". March 15, 2004.
  25. ^ "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.
  26. ^ a b Writer, CBR Staff (2005-05-17). "SS&C buys Financial Interactive". Tech Monitor. Retrieved 2022-11-23.
  27. ^ "SS&C buys foreign exchange trading software business from Integral". August 22, 2005.
  28. ^ "SS&C adds Open Information Systems to wave of acquisitions". October 31, 2005.
  29. ^ "SS&C collects Cogent Management for $12M cash". www.bizjournals.com. Retrieved 2022-11-30.
  30. ^ "SS&C picks up Zoologic for $2.5M". www.bizjournals.com. Retrieved 2022-11-30.
  31. ^ "SS&C Tech buys assets of N.J. firm". www.bizjournals.com. Retrieved 2022-11-30.
  32. ^ "SS&C acquires Micro Design Services". www.bizjournals.com. Retrieved 2022-11-30.
  33. ^ "SS&C Technologies Holdings Acquires Evare | Mergr M&A Deal Summary". mergr.com. Retrieved 2022-12-02.
  34. ^ "SS&C acquires assets of Maximis software from Unisys". Tech Monitor. 2009-06-01. Retrieved 2022-12-02.
  35. ^ "SS&C buys TheNextRound". www.bizjournals.com. Retrieved 2022-12-02.
  36. ^ "SS&C Technologies Holdings Acquires Tradeware Global | Mergr M&A Deal Summary". mergr.com. Retrieved 2022-12-02.
  37. ^ Annual report 2010
  38. ^ Lang, Michelle (October 7, 2010). "SS&C buys Thinklink financial services biz". Boston Business Journal.
  39. ^ "SS&C Announces Closing of BDO Simpson Xavier Fund Administration Services - Global Custodian". www.globalcustodian.com. Retrieved 2022-12-21.
  40. ^ "SS&C Acquires Background-Search Software From Teledata". Hartford Courant. 27 December 2011. Retrieved 2022-12-21.
  41. ^ Bounds, Jeff (October 19, 2012). "SS&C Technologies to buy Hedgemetrix".
  42. ^ "Analysis: SS&C Buys Portia | FTF News - Part 3608". www.ftfnews.com. Retrieved 2022-12-21.
  43. ^ "SS&C Technologies buys GlobeOp Financial Services for £572 mln". Proactiveinvestors NA. 2012-06-27. Retrieved 2022-12-21.
  44. ^ "Windsor-based SS&C Acquires Mass.-based Gravity Financial". Hartford Courant. 28 September 2012. Retrieved 2023-01-06.
  45. ^ "SS&C Technologies Holdings Acquires Prime Management Limited | Mergr M&A Deal Summary". mergr.com. Retrieved 2023-01-06.
  46. ^ Reporter; Reporter (2014-12-02). "SS&C acquires DST Global Solutions". www.investordaily.com.au. Retrieved 2023-01-06.
  47. ^ Merced, Michael J. de la (2015-02-02). "SS&C to Buy Advent Software for $2.3 Billion". DealBook. Retrieved 2023-01-06.
  48. ^ Capital, Alpha Gen (10 February 2015). "SS&C Technologies: Advent Acquisition A Game Changer (NASDAQ:SSNC) | Seeking Alpha". Seeking Alpha. Retrieved 2023-01-06.
  49. ^ "SS&C Technologies Holdings Acquires Varden Technologies | Mergr M&A Deal Summary". mergr.com. Retrieved 2023-01-06.
  50. ^ "SS&C to Acquire Primatics for $122M | FTF News - Part 8409". www.ftfnews.com. Retrieved 2023-01-06.
  51. ^ "SS&C Acquires Client Portal Vendor Modestspark". Wealth Management. 2017-11-03. Retrieved 2023-01-19.
  52. ^ "DST Systems Inc - Company Profile and News". Bloomberg.com. Retrieved 2023-01-19.
  53. ^ "SS&C boosts banking software heft with $5.4 billion DST deal". Reuters. 2018-01-11. Retrieved 2023-01-19.
  54. ^ "SS&C plans to acquire Boston software co. for $1.4B | Hartford Business Journal". Retrieved 30 March 2023.
  55. ^ Visconti, Ambrogio. "SS&C Technologies Holdings' $1.5 billion acquisition of Intralinks Holdings, Inc". Retrieved 2023-01-19.
  56. ^ Tsidulko, Joseph (2019-09-25). "IBM To Sell Algorithmics Portfolio To SS&C". CRN. Retrieved 2023-01-19.
  57. ^ "SS&C Technologies Acquires MineralWare for $18M". May 16, 2022.
  58. ^ "Britain's Blue Prism agrees to $1.65 bln takeover by SS&C, snubs Vista". Reuters. 2021-12-01. Retrieved 2023-01-19.
  59. ^ "SS&C Acquires Tier1's CRM Business". August 23, 2022.
  60. ^ "SS&C Stocks". Bloomberg. January 26, 2017. Retrieved January 25, 2017.
  61. ^ "SS&C GlobeOp Investor Services". Bobsguide. Retrieved January 25, 2017.
  62. ^ "SS&C's Anniversary coincides global wealth platform launch in Asia". NBC News. 2011-03-14. Retrieved January 25, 2017.
  63. ^ "Accounting for Skyline". Retrieved January 25, 2017.
  64. ^ "Skyline Review, 2017 - Top Ten Reviews". Retrieved January 25, 2017.
  65. ^ "BenefiX - swipx". Retrieved January 26, 2017.
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