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SS&C Technologies Inc. (NASDAQ: SSNC), founded in 1986, is a global provider of software products and software-enabled services that focus primarily on the financial services and healthcare sectors. Headquartered in Windsor, Connecticut, SS&C operates worldwide, offering solutions that encompass account administration, asset valuation, compliance processing, data gathering, investment accounting, performance measurement, and regulatory reporting.
The company caters to a diverse clientele, including asset managers, banks, financial advisors, insurance companies, real estate investment trusts (REITs), and alternative investment firms. SS&C's offerings are tailored to meet the specific needs of each industry, ensuring operational excellence and compliance with regulatory requirements. By leveraging state-of-the-art technology, SS&C helps its clients manage and account for investments totaling over $44 trillion.
SS&C's product suite includes SS&C GlobeOp, which provides fund administration services to alternative and traditional asset managers, and Intralinks, a leading provider of Virtual Data Room solutions. The acquisition of DST Systems in 2018 expanded SS&C's footprint into the healthcare sector, adding pharmacy health management solutions and medical claim administration services to its portfolio. More recently, in 2022, SS&C acquired Blue Prism, further enhancing its intelligent automation capabilities.
SS&C's latest strategic moves include a partnership with Regnology to deliver an integrated risk and regulatory reporting solution designed to streamline compliance and analytical insights. This collaboration aims to help financial institutions adapt swiftly to regulatory changes, enhancing their operational efficiency.
Financially, SS&C has demonstrated robust performance, with record adjusted revenue and consolidated EBITDA for the full year 2023. The company generated over $1.2 billion in operating cash flow and maintains a strong cash position with a net leverage ratio of 3.05 times consolidated EBITDA. Despite global economic uncertainties, SS&C continues to see opportunities in both the financial services and healthcare markets, driven by strategic acquisitions and partnerships.
SS&C is also enhancing its global reach, recently receiving regulatory approval to expand its fund administration services in the Abu Dhabi Global Market. This move reinforces SS&C's commitment to providing comprehensive financial technology solutions across different regions and markets.
SS&C Technologies (Nasdaq: SSNC) announced that its digital investment platform, Singularity, has acquired over 50 clients. Singularity enhances middle and back-office operations for insurance firms through advanced technologies such as machine learning and predictive analytics. The platform offers automation, analytical insights, and compliance support, addressing the need for improved operational models in the wake of the pandemic. SS&C's CEO noted the significant demand for holistic AI-driven data analytics in investment portfolios.
SS&C Technologies (Nasdaq: SSNC) released the Q3 2021 SS&C Intralinks Deal Flow Predictor, indicating a positive outlook for global mergers and acquisitions (M&A) activity. The report forecasts a greater than 10% increase in announced M&A volume compared to Q3 2020, driven by growth in all regions, particularly Asia-Pacific. North America is expected to continue its record growth due to re-openings and vaccinations. SS&C Intralinks has facilitated over US$34.7 trillion in transactions, underlining its pivotal role in enabling M&A activities.
SS&C Technologies (Nasdaq: SSNC) announced that Hurricane Capital Advisors has launched operations utilizing SS&C's front-to-back office solution. This partnership will include fund administration, customized middle-office solutions, FIX connectivity, and advanced order management systems. Hurricane Capital's platform allows experienced managers to invest globally while maintaining superior asset control. Expected to host ten portfolio managers by July, Hurricane Capital's leadership team brings over 50 years of investment experience. SS&C aims to support fund launches with flexible technology and services.
SS&C Technologies (SSNC) announced that CSOP Asset Management Ltd. in Hong Kong has selected the Eze Investment Suite for order management and portfolio accounting. This system offers the flexibility necessary for managing leveraged and inverse products, ETFs, and equities. CSOP, the first offshore asset manager in China, aims to enhance its portfolio management and trading workflows with this technology, which will facilitate foreign investment into China’s capital markets.
SS&C Technologies announced a strategic investment in Japan with the deployment of its Distributed Storage Node technology. This advancement enhances the Intralinks VDRPro™ service, allowing local data storage for quicker access. The Tokyo storage node will serve clients in sectors like syndicated loans and M&A. Notable client Mizuho Bank expressed that this launch will bolster digital transformation in syndicated loan administration amid evolving data privacy regulations.
SS&C Technologies Holdings (Nasdaq: SSNC) announced on June 2, 2021, that several financial institutions worldwide have begun implementing its Fundamental Review of the Trading Book (FRTB) solution in 2021. This solution addresses upcoming Basel Committee market risk capital requirements effective January 2023. Notable clients include Denmark's SDC and Slovenia's Nova Ljubljanska banka, both of whom emphasized the need for compliance and enhanced risk management capabilities. The FRTB solution offers high performance, scalability, and extensive model coverage, positioning SS&C as a key player in the financial services industry.
SS&C Technologies has amended its acquisition proposal for Mainstream Group Holdings, offering A$2.76 per security, totaling an enterprise value of approximately A$406 million (US$314 million). This acquisition, aimed at obtaining 100% of Mainstream's shares, is pending approval from Mainstream's shareholders and regulators and is expected to close in Q3 2021. Mainstream provides various investment administration services globally, managing funds worth AUD $272 billion for over 176,000 investors.
SS&C Technologies has launched SS&C Lyric, a cutting-edge operating platform designed for asset managers, broker-dealers, retirement recordkeepers, and superannuation providers. This platform provides a cloud-based environment with customizable user experiences and real-time data transparency. Core features include 24x7 availability and personalized configurations. The transition to Lyric is being implemented across SS&C's global recordkeeping solutions without requiring any conversions from existing platforms. This initiative aims to enhance client service and data management capabilities.
SS&C Technologies has amended its Scheme Implementation Deed to acquire 100% of Mainstream Group for A$2.66 per security, valuing Mainstream at approximately A$392 million (or US$306 million). The acquisition is subject to shareholder approval, court consent, and regulatory approvals, with an anticipated closing in Q3 2021. Mainstream provides investment administration services globally, serving over 176,000 investors with A$272 billion in assets under administration.
On May 24, 2021, SS&C Technologies (Nasdaq: SSNC) announced its selection as fund administrator by Diversified Trust, a wealth management firm managing $7.5 billion in assets. SS&C will oversee private equity administration, reporting, tax services, and compliance for Diversified Trust's private equity fund of funds platform. Utilizing SS&C's technology, the partnership aims to streamline processes and enhance client services. Diversified Trust chose SS&C for its integrated solutions and expertise in fund-of-fund structures, focusing on improved accounting and reporting.
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