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SS&C Technologies

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SS&C Technologies Holdings, Inc.
Company typePublic company
IndustryFinancial Technology Software Products
FoundedMarch 1, 1986; 38 years ago (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]

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, 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.[9]

In 2021, Mammoth Scientific selected SS&C as the administrator and technology partner for its $100 million venture capital fund.[10] 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.[14]

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.

Comany Industry/Service Year Source
Chalke, Inc. 1995
Shepro Braun Investment software 1997 [15]
Mabel Systems Portfolio management 1997 [16]
Quantra Real estate equity and debt investment management 1998 [17]
The Savid Group 1998
HedgeWare, Inc. Portfolio, tax accounting and financial partnership software 1999 [18][19]
The Brookside Corporation 1999
Digital Visions assets of Netzee Inc. Internet banking products and services and internet commerce products 2001 [20]
Real-Time USA 2002
DBC 2002
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 [27]
MarginMan Collateralized trading software 2005 [28]
Open Information Systems Web-based support applications for financial institutions 2005 [29]
Achievement Technologies 2005
Cogent Management Hedge fund management services 2006 [30]
Zoologic Education software 2006 [31]
Northport, LLC Fund administration 2007 [32]
Micro Design Services, LLC Software design and development 2008 [33]

SS&C's largest acquisition to that date was the acquisition of Advent Software (estimated $2.7 billion) which was a competitor in the financial services industry. SS&C gained a big provider of software used by 4,300 investment fund managers, including hedge funds and family offices.[34]

In December 2014, SS&C acquired DST Global Solutions for a cash price of $95 million which helped them target the EMEA and Asia-Pacific locations. DST Solutions before being acquired by SS&C, was a 390-person business with $60-$65 million in annual revenues, 90% of which came from EMEA and Asia-Pacific regions.[35]

On August 18, 2015, it was announced that SS&C would acquire Citigroups (NYSE: C) Alternative Investor Services business. This included Hedge Fund services and Private Equity Fund services, for $425 million.[36]

In 2015, SS&C Technologies acquired Primatics Financial for an estimated $122 million on a cash and debt-free basis from The Carlyle Group. Primatics reported that it had 384 employees and in 2014 had an annual revenue of $51 million.[37]

In 2016, SS&C acquired Conifer Financial Services, for an aggregate purchase of $88.5 million. It was agreed that the senior management of Conifer will continue to lead the business.[38]

In 2018, SS&C completed its largest acquisition to date, of DST Systems for $5.4 billion, and completed additional acquisitions of Eze Software and Intralinks.[39][40] The company also moved its New York City office to 4 Times Square, and expanded the office in 2019.[41]

In September 2019, SS&C announced it has entered a definite agreement to acquire Algorithmics from IBM.[42]

In May 2022, SS&C announced the acquisition of MineralWare, a cloud-based asset management platform. MineralWare was founded in 2014 in Texas.[43]

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.[44]

SS&C GlobeOp Investor Services

SS&C GlobeOp is a fund administrator offering financial technology products and services.[45] This includes automated, integrated middle- and back office services. Established in 2000, SS&C GlobeOp is headquartered in London and New York and has offices in the Cayman Islands, India and Ireland. There are approximately 1,590 people working cross the ten offices across the globe.

SS&C Advent

Advent Software is a software company that makes software designed to automate portfolio accounting for investment management firms. The company has customers in 60 countries that manage some $18 trillion in assets.

SS&C Learning Institute

The Learning Institute is a division of SS&C dedicated to providing state-of-the-art professional education to the financial and health sectors. From a digital library of hundreds of courses to custom development services and on-demand webinars, the robust suite of products and services are used by many of the world’s leading wealth management firms, investment banks, insurance companies, hedge funds, commercial banks and other financial services companies. In addition, the SS&C Learning Institute offers customized learning paths to enhance the business and finance programs of the world’s top colleges and universities. Visit ssctech.com/learn to learn more.

SS&C Global Wealth Management

The SS&C Global Wealth Platform (GWP) is used by global banking and wealth management firms across the globe. The SS&C Global Wealth Platform offers secured web-based multi-currency wealth management aimed to support all aspects of investment management.[46]

SS&C Skyline

SS&C Skyline is an accounting system designed for property management functions. Designed with an accounting system that helps the user control operational efficiency.[47] The property management software can be used as a marketing platform that helps users find new tenants through common rental websites and online applications.[48]

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.[49]

Corporate affairs

Awards

In 2012, SS&C Founder William C. Stone received an alumni award from the Marquette University, honouring his work in the financial service industry. Stone was presented with the college's 2012 Entrepreneurial Award.[50]

In 2015, SS&C GlobeOp won the award for best valuation service provider of the year, from Custody Risk Americas Awards.[51]

In December 2016, SS&C Advent's Geneva platform won best portfolio accounting title for the third year in a row at the Buy-Side Technology (BST) awards.[52]

At the 2016 WealthManagement.com Industry awards, SS&C's Black Diamond was recognised for its Account Aggregation.[53]

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". Retrieved January 25, 2017.
  3. ^ "SS&C Technologies, Inc.: About Us: Offices". Retrieved June 4, 2019.
  4. ^ Cassady, By 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. ^ www.bizjournals.com https://www.bizjournals.com/boston/blog/mass-high-tech/2005/07/ssc-technologies-sells-to-the-carlyle-group.html. Retrieved 2022-10-25. {{cite web}}: Missing or empty |title= (help)
  8. ^ Cowan, Lynn. "IPO Outlook: SS&C Technologies Set to Close Out March IPOs". WSJ. Retrieved 2022-10-25.
  9. ^ Cowan, Lynn. "IPO Outlook: SS&C Technologies Set to Close Out March IPOs". WSJ. Retrieved 2022-10-25.
  10. ^ "Mammoth Scientific selects SS&C for inaugural VC Fund". www.privateequitywire.co.uk. 2021-10-05. Retrieved 2022-11-08.
  11. ^ "Mammoth Scientific selects SS&C for inaugural VC Fund". www.privateequitywire.co.uk. 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. ^ Lomax, Asset Servicing Times reporter Jenna. "Liontrust Asset Management renews contract with SS&C Technologies". www.assetservicingtimes.com. Retrieved 2022-11-30.
  14. ^ Lomax, Asset Servicing Times reporter Jenna. "Liontrust Asset Management renews contract with SS&C Technologies". www.assetservicingtimes.com. Retrieved 2022-11-30.
  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. 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". www.hedgeweek.com. 2003-10-29. Retrieved 2022-11-21.
  22. ^ https://www.annualreports.com/HostedData/AnnualReportArchive/s/NASDAQ_SSNC_2007.pdf
  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. ^ Writer, CBR Staff (2005-05-17). "SS&C buys Financial Interactive". Tech Monitor. Retrieved 2022-11-23.
  27. ^ Writer, CBR Staff (2005-05-17). "SS&C buys Financial Interactive". Tech Monitor. Retrieved 2022-11-23.
  28. ^ "SS&C buys foreign exchange trading software business from Integral". August 22, 2005.
  29. ^ "SS&C adds Open Information Systems to wave of acquisitions". October 31, 2005.
  30. ^ www.bizjournals.com https://www.bizjournals.com/boston/blog/mass-high-tech/2006/03/ssc-collects-cogent-management-for-12m-cash.html. Retrieved 2022-11-30. {{cite web}}: Missing or empty |title= (help)
  31. ^ www.bizjournals.com https://www.bizjournals.com/boston/blog/mass-high-tech/2006/09/ssc-picks-up-zoologic-for-25m.html. Retrieved 2022-11-30. {{cite web}}: Missing or empty |title= (help)
  32. ^ www.bizjournals.com https://www.bizjournals.com/boston/blog/mass-high-tech/2007/03/ssc-tech-buys-assets-of-nj-firm.html. Retrieved 2022-11-30. {{cite web}}: Missing or empty |title= (help)
  33. ^ www.bizjournals.com https://www.bizjournals.com/boston/blog/mass-high-tech/2008/10/ssc-acquires-micro-design-services.html. Retrieved 2022-11-30. {{cite web}}: Missing or empty |title= (help)
  34. ^ "SS&C to Buy Advent Software". Retrieved January 25, 2017.
  35. ^ "SS&C Acquires DST Global Solutions". 2014-12-02. Retrieved January 25, 2017.
  36. ^ "SS&C Technologies (SSNC) Announces $425M Acquisition of Citi's (C) Alternative Investor Services Business". Retrieved January 25, 2017.
  37. ^ Eugene Grygo (September 14, 2015). "SS&C to Acquire Primatics for $122m". Financial Technologies Forum. Retrieved January 26, 2017.
  38. ^ "SS&C Acquires Confier Financial Services". Wealth Adviser. December 16, 2016. Retrieved January 26, 2017.
  39. ^ "SS&C boosts banking software heft with $5.4 billion DST deal". Reuters. Reuters. January 11, 2018. Retrieved March 6, 2019.
  40. ^ Visconti, Ambrogio (28 September 2018). "SS&C Technologies Holdings' $1.5 billion acquisition of Intralinks Holdings, Inc". Global Legal Chronicle. Global Legal Chronicle. Retrieved 28 September 2018.
  41. ^ Steve Cuozzo (January 7, 2019). "New Tenants Scramble to Get Spaces at Conde Nast's Old Pad". New York Post. Retrieved March 6, 2019.
  42. ^ "SS&C to Acquire Algorithmics Assets from IBM".
  43. ^ SS&C. "SS&C Acquires MineralWare". www.prnewswire.com. Retrieved 2022-05-17.
  44. ^ "SS&C Stocks". Bloomberg. January 26, 2017. Retrieved January 25, 2017.
  45. ^ "SS&C GlobeOp Investor Services". Bobsguide. Retrieved January 25, 2017.
  46. ^ "SS&C's Anniversary coincides global wealth platform launch in Asia". NBC News. 2011-03-14. Retrieved January 25, 2017.
  47. ^ "Accounting for Skyline". Retrieved January 25, 2017.
  48. ^ "Skyline Review, 2017 - Top Ten Reviews". Retrieved January 25, 2017.
  49. ^ "BenefiX - swipx". Retrieved January 26, 2017.
  50. ^ "SS&C Founder Bill Stone honored". Courier Press. April 27, 2012. Retrieved January 25, 2017.
  51. ^ "Custody Risk Awards – 2015 Winners". Retrieved January 25, 2017.
  52. ^ John Brazier (December 16, 2016). "Buy side technology awards 2016 best portfolio accounting platform SS&C Advent". Retrieved January 25, 2017.
  53. ^ "SS&S's black diamond recognized at wealthmanagement.com 2016 industry awards for account aggregation". bobsguide. October 10, 2016. Retrieved January 25, 2017.

Official website

  • Business data for SS&C Technologies Holdings, Inc.:
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