About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

SS&C Technologies Acquires Evare to Increase its Data Management Offering

Subscribe to our newsletter

Software and outsourcing solution vendor SS&C Technologies has acquired the assets of Evare, a provider for financial data acquisition, transformation and delivery solutions. Terms of the acquisition were not disclosed but SS&C has indicated that it believes the acquisition will enhance its offering in the areas of reconciliations, post-trade communication, securities data and portfolio management.

SS&C’s offering is focused on middle and back office institutional outsourcing and hedge fund administration and Evare’s portfolio of products will be added to this, including Recon, SSCNet and SVC. Bill Stone, chairman and CEO of SS&C Technologies, explains that the move is part of the vendor’s drive to improve its data management capabilities.

“We are poised to make major improvements in our data gathering and data transformation business, and Evare provides excellent technology and a strong workforce,” says Stone. The vendor brings to the table around 40 staff and more than 50 clients to add to SS&C’s user base.

Joseph Souza, chief operating officer of Evare, thinks SS&C is a good fit for its offering due to its focus on “data transformation”. He adds: “Our customers will clearly benefit from this combination of the two businesses as we are in a position to provide enhanced scalability and coverage.”

This acquisition is indicative of the wider trend within the data management vendor community towards mergers, purchases and partnerships that are springing up in order to strengthen these market participants’ capabilities in such a tough economic climate.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Solving the operations talent crisis

With financial services in the grip of the Great Resignation, operations – a function which has always found recruitment and retention of talent difficult – is facing challenging times. Business growth is a must, but with scaling comes the cost and complexity of additional headcount. How can you ensure that these constraints don’t hold your...

BLOG

Fenergo Perpetual KYC Service Offers Operational Efficiencies, Reduced Costs and Risk

Fenergo has joined early providers of perpetual KYC services with Smart Review, a solution designed to enable financial institutions to streamline periodic KYC review processes and reduce costs through automation. Smart Review automates the continuous monitoring of client profiles for KYC compliance by identifying all changes to relevant entity data, transactions and anti-money laundering (AML)...

EVENT

RegTech Summit London

Now in its 6th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

MiFID II handbook, third edition – How compliant are you?

Six months after Markets in Financial Instruments Directive II (MiFID II) went live, how compliant is your organisation? If you took a tactical approach to cross the compliance line on January 3, 2018, how are you reviewing and renewing systems to take a more strategic approach and what are the business benefits of doing so?...