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September 12, 2019

SS&C sets Mideast fintech deal

HBJ File Photo SS&C CEO and Chairman Bill Stone.
By Gregory Seay

Windsor financial-technology services vendor SS&C Technologies Holdings Inc. says it’s agreed to acquire investor-engagement technology to deepen its reach into the Middle Eastern and Asian fintech sector.

Publicly traded SS&C said Thursday it has a definitive pact to acquire closely held, Dubai-based Globacom Technologies’ Investrack investor-relationship technology for an undisclosed sum. The deal is due to close later this month, SS&C said.

If it does, Investrack would become at least SS&C’s fifth acquisition of fintech technology or providers in the last 12 months.

According to Globacom’s homepage, Investrack is a suite of digital financial-software tools enabling banks, investment houses and other financial-services providers to more effectively recruit, retain and engage with customers.

Investrack will operate as part of SS&C Advent, the parent’s portfolio-management and accounting solutions division, adding 29 employees based in Dubai and Pune, India, as well as 30 clients in 14 countries, officials said.

“Investrack helps our clients deepen their own client relationships, differentiate in a competitive market and further extends our global strategy, particularly in the Middle East," said Robert Roley, general manager of SS&C Advent.

Investrack CEO Vijay Kartha will report to Mats Berggren, head of international business development at SS&C Advent.

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