September 6, 2018

Windsor’s SS&C to acquire data-sharing platform for $1.5B

HBJ file photo
HBJ file photo
SS&C CEO and Chairman Bill Stone

Windsor fintech SS&C Technologies Holdings Inc. announced Thursday it plans to acquire a global banking market data-sharing platform for $1.5 billion.

SS&C said it has agreed to purchase Intralinks Holdings Inc., a financial technology provider for the global banking and capital markets, from private equity owner Siris Capital Group LLC for $1 billion in cash and $500 million in SS&C stock.

Frank Baker, Siris' co-founder and managing partner, is expected to join SS&C's board of directors when the deal closes in the fourth quarter this year, pending regulatory approval and customary closing conditions.

Intralinks facilitates mergers and acquisitions, capital raising and investor reporting through its data-sharing platforms for private equity and hedge fund professionals.

SS&C CEO and Chairman Bill Stone said the companies share a similar customer base and are "well-positioned to meet the needs of major banks, alternative funds and other corporations seeking to automate document-centric, collaborative workflows."

In 2017, Intralinks recorded total revenues of $303 million.

SS&C has announced a number of other acquisitions this year.

In August, the company said it agreed to acquire Eze Software, a Boston-based investment software provider for $1.4 billion. After the deal closes by year-end, SS&C will add 1,050 employees to 15 offices across five continents, and over 2,500 clients.

SS&C in June announced its purchase of CACEIS North America, the fund administration business of CACEIS based in Toronto and New York.

The fintech in April also completed its $5.4 billion purchase of Missouri-based financial services and healthcare technology firm DST.

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