Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013
SSandC Globe Op Bill Stone

27477

SS&C completes acquisition of DST

RELATED TOPICS​

SS&C Technologies Holdings, a provider of financial services software and software-enabled services, has completed the acquisition of DST Systems, a global strategic advisory, technology, and operations outsourcing company.

The addition of DST’s financial services and healthcare businesses provides SS&C with additional scale and breadth across institutional, alternative, wealth management and healthcare segments. SS&C will manage approximately 13,000 global clients and delivered pro forma 2017 revenue of approximately USD3.9 billion.
 
“We are pleased to move forward as one company following the combination of two highly complementary market leaders,” says Bill Stone (pictured), Chairman and Chief Executive Officer of SS&C. “Our clients in both the financial services and healthcare sectors are facing increasing competitive and regulatory pressures, and SS&C is now even better positioned to deliver innovative services and solutions. We are pleased to welcome DST’s clients and talented employees around the world.”
 
Under the terms of the agreement, as announced on 11 January 2018, an enterprise value of DST is approximately USD5.4 billion, including assumption of debt. As previously announced, SS&C expects the transaction to be immediately accretive to earnings per share before synergies and expects to achieve USD175 million in cost savings by 2021.
 
As a result of the completion of the acquisition, DST is ceasing trading on the New York Stock Exchange as of 16 April 2018.
 
Credit Suisse and Morgan Stanley acted as financial advisors and Davis Polk & Wardwell acted as legal advisor to SS&C. BofA Merrill Lynch acted as financial advisor and Skadden, Arps, Slate, Meagher & Flom acted as legal advisor to DST.

Latest News

Iress has announced that it has extended its partnership with Dow Jones Newswires to give..
The Financial Conduct Authority (FCA) writes that in new rules, it has set out a..
GAM has announced it has reached a definitive agreement to transfer its Management Company activities..

Related Articles

infrastructure headline
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the UK’s growth ambitions...
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the..
Tom McPhail, lang cat
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a widely predicted Labour win...
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a..
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving the UK’s growth ambitions is increasingly on investors’ agendas...
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving..
Duncan Higgs, Bfinance
Bfinance has released its latest report, "Investment Management Fees: Fairness Revisited," with a comprehensive analysis of current trends and challenges in investment management fees and costs across various asset classes...
Bfinance has released its latest report, "Investment Management Fees: Fairness Revisited," with a comprehensive analysis of current trends and challenges..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by