The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

SS&C is Back on the Acquisition Trail with $1.45 Billion Offer for Eze Software

SS&C is back on the acquisition trail with a $1.45 billion definitive agreement to acquire Eze Software from alternative asset firm TPG. The company backed out of the bidding for Fidessa in April 2018 after ION Trading made a late offer to acquire Fidessa and gazumped initial bidder Temenos. The SS&C acquisition of Eze Software, which is expected to close by the fourth quarter of this year, underlines the trend of back- and middle-office solution providers making acquisitions to strengthen their presence in the front office – witness, State Street’s $2.6 billion acquisition of Charles River earlier this month.

SS&C’s acquisition of Eze Software will add the latter’s flagship Eze Investment Suite, which offers order management, execution management and portfolio accounts, to SS&C’s range of asset management services and solutions – which, like Eze Software, are mostly the result of acquisition – as well as elements of portfolio analytics and modelling, compliance and regulatory reporting, and commission management.

It will also add more than 2,500 clients, and 1,050 employees in 15 offices around the world.

Bill Stone, chairman and CEO of SS&C Technologies, and a seasoned acquisitor, states: “Our clients are focused on reinventing their organisations. The addition of Eze Software aligns with our strategy to transform today’s investment operations.”

Jeffrey Shoreman, CEO and president at Eze Software, concurs, saying: “I am very pleased for Eze to join SS&C as we share the same vision for the future of investment operations. We look forward to extending our ideas and offering, and believe this is a game-changing moment for our clients and team. SS&C’s outsourcing services, combined with our technology platform, will enable us to further distance ourselves from the competition.”

In 2017, Eze Software had total revenues of $280 million and adjusted EBITDA of $105 million. SS&C expects $30 million of run-rate costs savings to be achieved by 2021 and for the transaction to be immediately accretive.

Related content

WEBINAR

Recorded Webinar: Best practices for regulatory reporting

Regulatory reporting has been a cost and resource burden for financial institutions for many years, with the race to compliance in a highly regulated market often leading to multiple, singular regulatory reporting solutions. Legacy systems add to the challenges of making reporting changes in line with adapted and new regulations. This webinar will address these...

BLOG

Addressing Trade Fails Can Lead to SDR Success

By Matt Johnson, Director, ITP Product Management, DTCC. It is just under ten months to go before the implementation of the Central Securities Depositories Regulation’s (CSDR) Settlement Discipline Regime (SDR), which will require firms to put in place measures to mitigate settlement delays, endorsing straight through processing (STP) to support high settlement rates. For trades...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that will be held in June 2021 with an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...