25 February 2018
visit www.nextgenbanking.co.uk/

SS&C agrees $5.4bn DST Systems takeover

11 January 2018  |  5469 views  |  0 cash

SS&C has agreed a $5.4 billion cash deal to buy DST Systems, giving a major boost to its move into the $25 trillion US retirement market.

Under a definitive agreement, SS&C will pay $84 per share, plus the assumption of debt, for DST, a provider of technology, strategic advisory and business operations outsourcing to the financial services and healthcare industries.

The Kansas City-based outfit employees more than 14,400 people and generated pro-forma revenue of $2.3 billion for the year ending 30 September.

SS&C says the deal significantly boosts its scale, with the combined company generating $3.9 billion in combined pro forma revenue and serving 13,000 clients. Importantly, DST expands SS&C's footprint into the US retirement and wealth management markets and adds more than a 110 million investor positions across DST’s client base.

SS&C has grown its business over the years through an aggressive acquisition strategy which has seen it undertake more than 40 take-overs to date, including GlobeOp in 2012, DST Global Solutions in 2014 and Advent Software in 2015.

Bill Stone, CEO, SS&C, says: "The rate of change, the technology required and the requirements of integrated solutions in the investment and wealth management space are unprecedented. The combination of SS&C and DST is an exciting opportunity and will continue to deliver solutions, globally."

Stone adds that he is "excited" to welcome DST employees and that SS&C will keep a presence in Kansas City once the deal - which is expected to generate $150 million of run-rate cost savings annually by 2020 - is completed in the third quarter, subject to DST stockholder approval and regulatory clearance.

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

SS&C joins fintech bulge-bracket with $2.7 billion Advent acquisition

SS&C joins fintech bulge-bracket with $2.7 billion Advent acquisition

03 February 2015  |  4993 views  |  0 comments | 1 tweets | 3 linkedin
SS&C acquires DST Global for $95 million in cash

SS&C acquires DST Global for $95 million in cash

02 December 2014  |  4094 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.swift.com/your-needs/instant-paymentsvisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12672 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10836 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9335 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8718 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8638 views comments | 11 tweets | 14 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job