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April 11, 2018

SS&C: Salentica merger spurs growth

By Joe Cooper

Windsor fintech SS&C Technologies Holdings Inc. said it has grown its client base by more than 40 percent since acquiring New York-based Salentica in 2016.

SS&C, a financial-technology services vendor did not report what impact the customer additions have had on its financials.

After the acquisition was announced in 2016, SS&C disclosed it had paid approximately $2 million for Salentica, which provides client relationship management (CRM) and document management products for wealth managers on both Microsoft Dynamics CRM and Salesforce CRM platforms.

The company said Wednesday the acquisition enabled them to expand Salentica’s CRM capabilities for asset managers, advisors and their clients. Meanwhile, the New York company also added new integrations to its data broker platform such as the Black Diamond Wealth Platform, Advent Portfolio Exchange and Axys, among other products.

“We owe much of our recent success to the trust our clients have placed in us to help them overcome the complexities of managing their client relationships," said Dave Ireland, co-general manager of SS&C Salentica.

The company added 30 employees at the time of the acquisition and Salentica’s leadership team remained in place.

SS&C’s reported growth comes after the company last month announced the acquisition of CACEIS North America, the fund administration business of CACEIS based in Toronto and New York. Terms were not released.

The company also recently hired Joseph F. Frank as its group general counsel, chief legal officer, and global head of mergers and acquisitions. Frank reports to William C. Stone, chairman and CEO.

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