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
Revenue US$5.051 billion (2021)
US$1.242 billion (2021)
US$800 million (2021)
Total assets US$17.33 billion (2021)
Total equity 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.[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]

In June, SS&C released a new asset allocator platform for institutional investors.[15] 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.[16]

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
Chalke, Inc. 1995
Shepro Braun Investment software 1997 [17]
Mabel Systems Portfolio management 1997 [18]
Quantra Real estate equity and debt investment management 1998 [19]
The Savid Group 1998
HedgeWare, Inc. Portfolio, tax accounting and financial partnership software 1999 [20][21]
The Brookside Corporation 1999
Digital Visions assets of Netzee Inc. Internet banking products and services and internet commerce products 2001 [22]
Real-Time USA 2002
DBC 2002
Amicorp Fund Services Fund administration 2003 [23]
Investment Advisory Network, LLC Financial portfolio manager 2004 [24]
NeoVision Hypersystems, Inc. Financial data and analytics/trading activity and customer portfolio performance 2004 [25]
OMR Systems Treasury processing software and outsourcing solutions 2004 [26]
Financial Models Company, Inc. Technology solutions and services for investments 2005 [27]
Eisnerfast Fund accounting 2005 [28]
Financial Interactive CRM and fund profiling software 2005 [29]
MarginMan Collateralized trading software 2005 [30]
Open Information Systems Web-based support applications for financial institutions 2005 [31]
Achievement Technologies 2005
Cogent Management Hedge fund management services 2006 [32]
Zoologic Education software 2006 [33]
Northport, LLC Fund administration 2007 [34]
Micro Design Services, LLC Software design and development 2008 [35]
Evare, LLC Managed utility service provider for financial data 2009 [36]
MAXIMIX business from Unisys Investment accounting software 2009 [37]
TheNextRound, Inc. Software developer for private equity and alternative investments 2009 [38]
Tradeware Global Broker-neutral system provider for equity market access 2010 [39]
Geller Investment Partnership Services Investment partnership services 2010 [40]
TD Ameritrade's Thinklink Product Order management software 2010 [41]
TimeShareWare 2010
BenefitsXML 2011
BDO Simpson Xavier Fund Administration Services Limited Fund administrator 2011 [42]
Teledata Communications, Inc. software assets Background-search and credit-retrieval software and services 2011 [43]
Hedgemetrix Back-office services for alternative investment funds 2012 [44]
Thomson Reuters' PORTIA Middle-to-back office investment operations platform 2012 [45]
GlopeOp Financial Services S.A. Fund services 2012 [46]
Gravity Financial Fund administrator 2012 [47]
Prime Management Limited Fund administrator 2013 [48]
DST Global Solutions Investment and fund management and analytics 2014 [49]
Advent Software Financial services 2015 [50][51]
Varden Technologies Software communication solutions 2015 [52]
Primatics Financial Accounting, forecasting, regulatory reporting, reserving and stress testing 2015 [53]
Salentica Customer relationship management (CRM) software 2016
Modestspark Client portal and digital client experience tools 2017 [54]
DST Systems Information processing and software 2018 [55][56]
Eze Software Investment software 2018 [57]
Intralinks Financial technology 2018 [58]
Algorithmics Financial risk management 2019 [59]
Capricity Cloud-based artificial intelligence technology 2020
MineralWare Cloud-based asset management platform 2022 [60]
Blue Prism Group, PLC Robotic process automation 2022 [61]
Hubwise Securities Limited 2022

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.[62]

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.

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.[63]

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.[64]

In 2018, SS&C completed its largest acquisition to date, of DST Systems for $5.4 billion. The company also moved its New York City office to 4 Times Square, and expanded the office in 2019.[65]

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.[66]

SS&C GlobeOp Investor Services

SS&C GlobeOp is a fund administrator offering financial technology products and services.[67] 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.

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.

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.[68]

SS&C Skyline

SS&C Skyline is an accounting system designed for property management functions.[69] The property management software can be used as a marketing platform that helps users find new tenants through common rental websites and online applications.[70]

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.[71]

References
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