SS&C Technologies explained

SS&C Technologies Holdings, Inc.
Type:Public
Founded:, in Windsor, Connecticut, as Security Software & Consulting Inc.
Founders:William C. Stone
Area Served:Worldwide
Key People:
Industry:Financial Technology Software Products
Products:Software enabled services
Revenue: (2021)
Operating Income: (2021)
Net Income: (2021)
Assets: (2021)
Equity: (2021)
Num Employees:24,900 (December 2021)
Footnotes:[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

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 buy-out 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.<ref name="auto2">Web site: Lomax . Asset Servicing Times reporter Jenna . Liontrust Asset Management renews contract with SS&C Technologies . 2022-11-30 . www.assetservicingtimes.com . en. The company uses SS&C’s products to manage the majority of its £38.5 billion in assets.

In June, SS&C released a new asset allocator platform for institutional investors.[13] 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.[13]

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 BraunInvestment software1997[14]
Mabel SystemsPortfolio management1997[15]
QuantraReal estate equity and debt investment management1998[16]
HedgeWare, Inc.Portfolio, tax accounting and financial partnership software1999[17] [18]
Digital Visions assets of Netzee Inc.Internet banking products and services and internet commerce products2001[19]
Amicorp Fund ServicesFund administration 2003[20]
Investment Advisory Network, LLCFinancial portfolio manager2004[21]
NeoVision Hypersystems, Inc.Financial data and analytics/trading activity and customer portfolio performance2004[22]
OMR SystemsTreasury processing software and outsourcing solutions2004[23]
Financial Models Company, Inc.Technology solutions and services for investments2005[24]
EisnerfastFund accounting2005[25]
Financial InteractiveCRM and fund profiling software2005
MarginManCollateralized trading software2005[26]
Open Information SystemsWeb-based support applications for financial institutions 2005[27]
Cogent ManagementHedge fund management services2006[28]
ZoologicEducation software2006[29]
Northport, LLCFund administration2007[30]
Micro Design Services, LLCSoftware design and development2008[31]
Evare, LLCManaged utility service provider for financial data2009[32]
MAXIMIS business from UnisysInvestment accounting software2009[33]
TheNextRound, Inc.Software developer for private equity and alternative investments2009[34]
Tradeware GlobalBroker-neutral system provider for equity market access2010[35]
Geller Investment Partnership ServicesInvestment partnership services2010[36]
TD Ameritrade's Thinklink ProductOrder management software2010[37]
BDO Simpson Xavier Fund Administration Services LimitedFund administrator2011[38]
Teledata Communications, Inc. software assetsBackground-search and credit-retrieval software and services2011[39]
HedgemetrixBack-office services for alternative investment funds2012[40]
Thomson Reuters' PORTIAMiddle-to-back office investment operations platform2012[41]
GlopeOp Financial Services S.A.Fund services2012[42]
Gravity FinancialFund administrator2012[43]
Prime Management LimitedFund administrator2013[44]
DST Global SolutionsInvestment and fund management and analytics2014[45]
Advent SoftwareFinancial services2015[46] [47]
Varden TechnologiesSoftware communication solutions2015[48]
Primatics FinancialAccounting, forecasting, regulatory reporting, reserving and stress testing2015[49]
ModestsparkClient portal and digital client experience tools2017[50]
DST SystemsInformation processing and software2018[51] [52]
Eze SoftwareInvestment software2018[53]
IntralinksFinancial technology2018[54]
AlgorithmicsFinancial risk management2019[55]
MineralWareCloud-based asset management platform2022[56]
Blue Prism Group, PLCRobotic process automation2022[57]
Tier1 CRMCapital markets CRM2022[58]

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.[59]

SS&C GlobeOp Investor Services

SS&C GlobeOp is a fund administrator offering financial technology products and services.[60]

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.[61]

SS&C Skyline

SS&C Skyline is an accounting system designed for property management functions.[62] The property management software can be used as a marketing platform that helps users find new tenants through common rental websites and online applications.[63]

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.[64]

Notes and References

  1. Web site: SS&C Technologies Holdings, Inc. 2021 Annual Report (Form 10-K) . 25 February 2022 . U.S. Securities and Exchange Commission.
  2. Web site: SS&C Technologies, Inc.: Private Company Information - Bloomberg . . January 25, 2017.
  3. Web site: SS&C Technologies, Inc.: About Us: Offices . June 4, 2019.
  4. Web site: SSNC SS&C Technologies Holdings Inc. Annual Balance Sheet - WSJ . 2024-04-09 . www.wsj.com.
  5. Web site: SS&C Technologies Holdings, Inc. (SSNC) Balance Sheet - Yahoo Finance . 2024-04-09 . finance.yahoo.com . en-US.
  6. Web site: Cassady . Pam . William Stone founder of SS&C Technologies continues to support his hometown . 2022-10-25 . Courier & Press . en-US.
  7. Web site: SSNC Share Price and News / SS&C Technologies Holdings, Inc. (NASDAQ) . 2022-10-25 . fintel.io . en.
  8. Web site: The Carlyle Group Completes Acquisition Of SS&C Technologies, Inc. - Global Custodian . 2022-10-25 . www.globalcustodian.com.
  9. Web site: SS&C Technologies sells to the Carlyle Group for $941M. 2022-10-25 . www.bizjournals.com.
  10. News: Cowan . Lynn . IPO Outlook: SS&C Technologies Set to Close Out March IPOs . 2022-10-25 . Wall Street Journal . 28 March 2010 . en-US.
  11. News: 2021-10-05 . Mammoth Scientific selects SS&C for inaugural VC Fund . 2022-11-08 . Private Equity Wire . en.
  12. Web site: Lomax . Asset Servicing Times reporter Jenna . Gordian Capital picks SS&C Technologies' Eze . 2022-11-30 . www.assetservicingtimes.com . en.
  13. Web site: SS&C targets institutional investors with new asset allocator platform - Global Custodian . 2022-12-15 . www.globalcustodian.com.
  14. Web site: Shepro Braun Systems, Acquired by SS&C Technologies Holdings, Inc. on December 12th, 1997 Mergr . 2022-11-21 . mergr.com.
  15. Web site: Mabel Systems BV, Acquired by SS&C Technologies Holdings, Inc. on January 1st, 1997 Mergr . 2022-11-21 . mergr.com.
  16. Web site: 1998-05-01 . Choosing the right software for multifamily property managers . 2022-11-21 . Wealth Management . en.
  17. Web site: 1999-04-12 . SS&C Plans To Adapt Hedgeware's Front-End Interface For All Products . 2022-11-21 . WatersTechnology.com . en.
  18. Web site: FOCUS ON: SS&C TECHNOLOGIES INC. . 2022-11-21 . Hartford Courant. 15 April 1999 .
  19. Web site: Nov 16, 2001 . Netzee sells Digital Vision to SS&C Technologies .
  20. News: 2003-10-29 . SS&C Technologies to acquire Amicorp fund admin business Hedgeweek . 2022-11-21 . Hedgeweek . en.
  21. https://www.annualreports.com/HostedData/AnnualReportArchive/s/NASDAQ_SSNC_2007.pdf Annual report 2007
  22. Web site: Investment-Technology Newsflashes . 2022-11-21 . Wall Street & Technology . en.
  23. Web site: March 15, 2004 . Financial software firm SS&C buys OMR Systems for $20M .
  24. Web site: 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 . 2022-11-21 . www.marlinllc.com.
  25. Web site: Writer . CBR Staff . 2005-05-17 . SS&C buys Financial Interactive . 2022-11-23 . Tech Monitor . en-US.
  26. Web site: August 22, 2005 . SS&C buys foreign exchange trading software business from Integral .
  27. Web site: October 31, 2005 . SS&C adds Open Information Systems to wave of acquisitions .
  28. Web site: SS&C collects Cogent Management for $12M cash. 2022-11-30 . www.bizjournals.com.
  29. Web site: SS&C picks up Zoologic for $2.5M. 2022-11-30 . www.bizjournals.com.
  30. Web site: SS&C Tech buys assets of N.J. firm . 2022-11-30 . www.bizjournals.com.
  31. Web site: SS&C acquires Micro Design Services. 2022-11-30 . www.bizjournals.com.
  32. Web site: SS&C Technologies Holdings Acquires Evare Mergr M&A Deal Summary . 2022-12-02 . mergr.com.
  33. News: 2009-06-01 . SS&C acquires assets of Maximis software from Unisys . 2022-12-02 . Tech Monitor .
  34. Web site: SS&C buys TheNextRound. 2022-12-02 . www.bizjournals.com.
  35. Web site: SS&C Technologies Holdings Acquires Tradeware Global Mergr M&A Deal Summary . 2022-12-02 . mergr.com.
  36. https://www.annualreports.com/HostedData/AnnualReportArchive/s/NASDAQ_SSNC_2010.pdf Annual report 2010
  37. Web site: Lang . Michelle . October 7, 2010 . SS&C buys Thinklink financial services biz . Boston Business Journal.
  38. Web site: SS&C Announces Closing of BDO Simpson Xavier Fund Administration Services - Global Custodian . 2022-12-21 . www.globalcustodian.com.
  39. Web site: SS&C Acquires Background-Search Software From Teledata . 2022-12-21 . Hartford Courant. 27 December 2011 .
  40. Web site: Bounds . Jeff . October 19, 2012 . SS&C Technologies to buy Hedgemetrix .
  41. Web site: Analysis: SS&C Buys Portia FTF News - Part 3608 . 2022-12-21 . www.ftfnews.com.
  42. Web site: 2012-06-27 . SS&C Technologies buys GlobeOp Financial Services for £572 mln . 2022-12-21 . Proactiveinvestors NA . en.
  43. Web site: Windsor-based SS&C Acquires Mass.-based Gravity Financial . 2023-01-06 . Hartford Courant. 28 September 2012 .
  44. Web site: SS&C Technologies Holdings Acquires Prime Management Limited Mergr M&A Deal Summary . 2023-01-06 . mergr.com.
  45. Web site: Reporter . Reporter . 2014-12-02 . SS&C acquires DST Global Solutions . 2023-01-06 . www.investordaily.com.au . en-gb.
  46. Web site: Merced . Michael J. de la . 2015-02-02 . SS&C to Buy Advent Software for $2.3 Billion . 2023-01-06 . DealBook . en.
  47. News: SS&C Technologies: Advent Acquisition A Game Changer (NASDAQ:SSNC) Seeking Alpha . 2023-01-06 . Seeking Alpha . 10 February 2015 . en. Capital . Alpha Gen .
  48. Web site: SS&C Technologies Holdings Acquires Varden Technologies Mergr M&A Deal Summary . 2023-01-06 . mergr.com.
  49. Web site: SS&C to Acquire Primatics for $122M FTF News - Part 8409 . 2023-01-06 . www.ftfnews.com.
  50. Web site: 2017-11-03 . SS&C Acquires Client Portal Vendor Modestspark . 2023-01-19 . Wealth Management . en.
  51. Web site: DST Systems Inc - Company Profile and News . 2023-01-19 . Bloomberg.com . en.
  52. News: 2018-01-11 . SS&C boosts banking software heft with $5.4 billion DST deal . en . Reuters . 2023-01-19.
  53. Web site: SS&C plans to acquire Boston software co. for $1.4B | Hartford Business Journal. 30 March 2023.
  54. Web site: Visconti . Ambrogio . SS&C Technologies Holdings' $1.5 billion acquisition of Intralinks Holdings, Inc. . 2023-01-19 . en-US.
  55. Web site: Tsidulko . Joseph . 2019-09-25 . IBM To Sell Algorithmics Portfolio To SS&C . 2023-01-19 . CRN . en.
  56. Web site: May 16, 2022 . SS&C Technologies Acquires MineralWare for $18M .
  57. News: 2021-12-01 . Britain's Blue Prism agrees to $1.65 bln takeover by SS&C, snubs Vista . en . Reuters . 2023-01-19.
  58. Web site: August 23, 2022 . SS&C Acquires Tier1's CRM Business .
  59. Web site: SS&C Stocks. January 26, 2017. Bloomberg. January 25, 2017.
  60. Web site: SS&C GlobeOp Investor Services. Bobsguide. January 25, 2017.
  61. Web site: SS&C's Anniversary coincides global wealth platform launch in Asia. NBC News. January 25, 2017. 2011-03-14.
  62. Web site: Accounting for Skyline. January 25, 2017.
  63. Web site: Skyline Review, 2017 - Top Ten Reviews. January 25, 2017.
  64. Web site: BenefiX - swipx. January 26, 2017.

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