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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 its partnership with Blue Tractor Group and GSI Capital Advisors to expand into semi-transparent ETFs. The SEC has received a short form exemptive relief application from SS&C ALPS to offer these products using Blue Tractor's Shielded Alpha structure, which allows for active management within an ETF format. This innovation aims to lower trading costs and enhance tax efficiency, improving investment outcomes for clients.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced the extension of its administration relationship with St. James's Place Wealth Management (SJP) for another five years, continuing until 2034. This partnership, initiated in 2014, will leverage SS&C's advanced technology to support SJP's growth in life insurance, pensions, and investment administration. The collaboration was praised for its adaptability during the pandemic, allowing remote operations while maintaining high service levels. SJP now manages over £100bn of funds on SS&C's Bluedoor platform, enhancing service efficiency.
SS&C Technologies (Nasdaq: SSNC) has partnered with Wiseman Innovations, LLC, to enhance value-based analytics in healthcare. As an independent, authorized reseller of Wiseman's 360Platform, SS&C will provide health payers and providers with advanced analytics integrated into existing EHR systems. This platform helps identify care gaps and improves payer-provider alignment in value-based care programs. The collaboration aims to accelerate physician behavior change and optimize population health management using predictive tools and machine learning.
SS&C Technologies Holdings (Nasdaq: SSNC), a leading provider of software and services for financial and healthcare sectors, announced that Bill Stone, Chairman and CEO, will present at the Morningstar Management Behind the Moat Conference on September 29, 2020, at 10:00 am ET. The presentation will be accessible via SS&C's investor relations website. Founded in 1986 and headquartered in Windsor, Connecticut, SS&C serves approximately 18,000 organizations globally.
On September 25, 2020, SS&C Technologies Holdings announced a partnership with American Fidelity Assurance Company, marking the seventh client to adopt its AI-powered Singularity platform in three months. This collaboration will enhance American Fidelity's investment accounting processes. Additionally, SS&C's Precision LM will manage the entire loan lifecycle of American Fidelity's commercial mortgage investments. This partnership highlights SS&C's growing customer base in the insurance sector and its innovative solutions that integrate AI for operational efficiency.
SS&C Technologies (Nasdaq: SSNC) announced the hiring of Mike Webb as Director of Strategic Sales and Spencer Baum as Senior Director in its Global Investor & Distribution Solutions division. Webb will lead sales initiatives in the U.K. and Europe, focusing on retirement and savings technology solutions, while Baum will manage critical client relationships. These appointments aim to enhance client service and support technology modernization efforts. Both bring extensive industry experience, reinforcing SS&C's commitment to deliver expertise to its clients.
On September 23, 2020, SS&C Technologies (Nasdaq: SSNC) announced that Itaú USA Asset Management selected its GlobeOp platform for fund administration. This partnership involves comprehensive middle- and back-office services, investor services, performance analytics, compliance assistance, and risk management for Itaú's Cayman-domiciled funds. The move aims to streamline Itaú's vendor operations, allowing for improved efficiency. Charles Ferraz, CEO of IUAM, emphasized SS&C's role in optimizing their operations. Bill Stone, CEO of SS&C, expressed commitment to supporting Itaú's growth.
SS&C Technologies (Nasdaq: SSNC) launched Client View, a new application within its Black Diamond Wealth Platform, aimed at enhancing client management for advisors. This tool serves as an interconnected command center, enabling advisors to manage clients' financial data and communications seamlessly. Key features include balance sheet collaboration, reporting, and customizable options tailored to specific firm needs. The rollout will start with selected firms by year-end. Over 1,600 advisory firms currently utilize the Black Diamond platform.
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