29 August 2016
Find out more

Thomson Reuters offloads Portia to SS&C

29 February 2012  |  8210 views  |  0 handshake

Thomson Reuters has agreed to sell off Portia, its middle-to-back office investment operations platform, to SS&C Technologies for $170 million.

The Portia business provides a a range of middle-to-back office capabilities that allow investment managers to track and manage the day-to-day activity in their investment portfolios.

The acquisition sees 140 staff in Boston, Bangalore, London, Hong Kong, Singapore, Dubai, Tokyo and Bangkok move to SS&C, with Portia president Christy Bremner continuing to lead the unit.

Bill Stone, CEO, SS&C, says: "This deal significantly adds to our offerings in the portfolio management software industry. We look forward to working with Christy and her team to expand our offerings to the global financial services industry."

The transaction is slated to close in the second quarter, subject to regulatory approval and satisfaction of customary closing conditions.

Earlier this month Thomson Reuters completed the sale of its trade and risk management technology business to Vista Equity Partners. The sell offs are part of a wider revamp at the company, hit hard by the global economic downturn, that has also seen the markets division broken up and CEO Tom Glocer leave.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Bloomberg piles pressure on Thomson Reuters with Next redesign

Bloomberg piles pressure on Thomson Reuters with Next redesign

27 February 2012  |  11949 views  |  0 comments
Thomson Reuters reports Q4 loss thanks to $3bn goodwill charge

Thomson Reuters reports Q4 loss thanks to $3bn goodwill charge

09 February 2012  |  5656 views  |  0 comments
SS&C ponders GlopeOp bid

SS&C ponders GlopeOp bid

06 February 2012  |  3372 views  |  0 comments
Vista Equity Partners completes acquisition of Thomson Reuters risk unit

Vista Equity Partners completes acquisition of Thomson Reuters risk unit

01 February 2012  |  7352 views  |  0 comments
Glocer exits as Thomson Reuters appoints Smith to lead turnaround

Glocer exits as Thomson Reuters appoints Smith to lead turnaround

02 December 2011  |  6733 views  |  0 comments
Thomson Reuters disbands Market and Professional divisions

Thomson Reuters disbands Market and Professional divisions

28 September 2011  |  8153 views  |  0 comments
Thomson Reuters to sell trade and risk unit to Vista Equity Partners

Thomson Reuters to sell trade and risk unit to Vista Equity Partners

23 September 2011  |  10011 views  |  0 comments
PE firms circle Reuters Kondor

PE firms circle Reuters Kondor

06 June 2011  |  10585 views  |  0 comments
SS&C buys Tradeware Global

SS&C buys Tradeware Global

04 January 2010  |  15879 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comVisit capgemini.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
8150 views comments | 21 tweets | 24 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6506 views comments | 14 tweets | 14 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
5998 views comments | 10 tweets | 10 linkedin
Mondo becomes MonzoMondo becomes Monzo
5891 views comments | 14 tweets | 8 linkedin
Japanese bank consortium to build new payments network with SBI Ripple AsiaJapanese bank consortium to build new paym...
5530 views comments | 23 tweets | 18 linkedin

Featured job

Find your next job