SS&C Technologies’ acquisition of DST Global Solutions adds the latter’s Anova and HiPortfolio products to the SS&C portfolio. The Anova data management and analytics platform provides a new market dimension for SS&C and complements the company’s Sylvan performance and performance attribution solution. The HiPortfolio investment and fund accounting platform joins the Portia and Pacer solutions for institutional investment management that were acquired by SS&C in 2012 and 2005 respectively.
The $95 million cash acquisition not only adds well-established products to SS&C’s capability, but also gives the company greater presence in Europe and Asia Pacific following the transfer of all DST Global’s 390 employees based in 12 offices around the world to the company. In terms of clients, SS&C has gained 155 across the Americas, EMEA and Asia Pacific as a result of the acquisition. It expects the addition of DST Global to add revenue of $25 million to $30 million to SS&C European revenue of $150 million. In Asia Pacific, it expects DST Global to add about $40 million to SS&C revenue of about $25 million over the next year.
Bill Stone, chairman and CEO of SS&C, says: “We are always looking for acquisitions that offer good assets at a reasonable price. We view EMEA and Asia Pacific as strategic geographies so this acquisition provides the talent, technology and client base to accelerate growth.”
The clients acquired by SS&C include about 40 Anova users and about 100 HiPortfolio users. Stone says the Anova and HiPortfolio products will continue to be enhanced and improved, with Anova, a new product type for the company, being sold into the company’s existing client base as well as to new prospects. The company will also use its experience in outsourcing to support development of hosted solutions of the former DST Global solutions.
Stone concludes: “We will integrate DST Global into SS&C wisely, looking across the business and trying to retain our enlarged workforce while building business.”