Windsor's SS&C completes $5.4B DST purchase

BY Joe Cooper

HBJ file photo
HBJ file photo
SS&C CEO Bill Stone.
Windsor fintech SS&C Technologies Holdings Inc. has completed its $5.4 billion purchase of Missouri-based financial services and healthcare technology firm DST.

SS&C is paying approximately $84 per share in cash, including assumption of debt, the companies announced in January.

Adding DST, which provides specialized technology, strategic advisory and business operations outsourcing to the financial services and healthcare businesses, will increase SS&C's scale to 13,000 clients and approximately $3.9 billion in combined revenue, the companies said.

With more than 14,400 employees, DST generated revenue of $2.3 billion for the 12 months ended Sept. 30, 2017.

Bill Stone, SS&C CEO, said acquiring DST allows his company to provide additional innovative services for clients in financial services and healthcare sectors who face mounting regulatory pressures.