Expands Global Client Base and Geographic Footprint
WINDSOR, Conn., Aug. 19, 2011 (GLOBE NEWSWIRE) -- SS&C Technologies Holdings, Inc., (Nasdaq:SSNC), a global provider of investment and FINANCIAL software-enabled services and software, today announced it has entered into a definitive agreement to acquire BDO Simpson Xavier Fund Administration Services Limited, a division of BDO. The change of ownership was approved by the Central Bank of Ireland on the 12th of August 2011. The new division of SS&C will be known as SS&C Fund Services Ireland Limited. The transaction is subject to customary closing conditions and is expected to close before the end of August 2011.
The addition of the regulated, fully staffed and operational office in Dublin provides SS&C entry into the strategically important European regulated funds market, providing support for additional fund structures, including UCITS and QIF funds.
"The BDO business is highly complementary to our existing business. We have been evaluating the Dublin market for over a year and we found a quality organization with excellent clients," said David Reid, Senior Vice-President and Managing Director, SS&C International. "We will be bringing our advanced portal and mobile technologies and believe we will create the most technologically advanced administrator in Ireland."
"We are pleased SS&C, a world-class fund administrator with 223 billion in assets under administration, is acquiring this business," said Derry Gray, Managing Partner, BDO. "SS&C invests heavily in people, process and technology, and all of our partners here at BDO feel very comfortable in having our former clients and staff in SS&C's hands."
BDO is the fifth largest accountancy firm in Ireland and is a member of the BDO International network, the world's fifth largest accounting network. BDO have Audit, Tax and Advisory experts working in Dublin, Limerick and Belfast with 466 staff nationally and a turnover of €63m for the last financial year. The BDO International network provides professional services in 119 countries, with almost 47,000 people working out of 1,082 offices worldwide and a combined income of $5.28 billion in 2010.
About SS&C Technologies
Celebrating its 25th year, SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. 5,000 financial services organizations, from the world's largest to local financial services organizations, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $16 trillion in assets.
Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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CONTACT: Patrick Pedonti
Chief Financial Officer