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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.
On September 14, 2020, SS&C Technologies (Nasdaq: SSNC) announced its partnership with Conbrio Fund Partners for transfer agency support for its GBP1.5 billion fund range. The migration of Conbrio's funds to SS&C's full-service platform was completed within six months. Richard Slattery-Vickers from Conbrio emphasized SS&C's integrated service model, vital for future growth. CEO Nick Wright highlighted the swift migration as evidence of SS&C's capabilities, especially in a remote working environment.
SS&C Technologies (Nasdaq: SSNC), a global leader in financial services software, announced that Patrick Pedonti, Chief Financial Officer, will present at Deutsche Bank's Virtual Technology Conference on September 15, 2020, at 9:40 am ET. This event aims to discuss the company's innovations and strategies in software and services for financial and healthcare sectors. The presentation will be available via webcast on SS&C's investor relations website.
Founded in 1986 and headquartered in Windsor, Connecticut, SS&C supports approximately 18,000 clients worldwide.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced a strategic partnership with Nationwide to enhance its advisor-sold retirement plan platform. This collaboration will advance Nationwide's retirement business, allowing entry into new markets and accelerating platform modernization. SS&C will manage technology and processes for Nationwide's retirement solutions starting in 2021. Eric Stevenson, president of Nationwide's retirement plans, highlighted the commitment to providing improved solutions for plan sponsors and participants. SS&C aims to deliver an enhanced digital experience for customers.
SS&C Technologies Holdings has launched TimeShareWare Arrive, a contactless guest communication solution aimed at enhancing the vacation experience while ensuring safety amid COVID-19. This new technology allows guests to check-in and communicate with resort staff via their mobile devices, computers, or kiosks. Integrated with TimeShareWare software, it streamlines operations for shared-ownership properties and enhances guest privacy. Available in the U.S., Mexico, and the Caribbean, this innovation highlights SS&C's commitment to adapting to industry demands.
SS&C Technologies announced that Bardin Hill Investment Partners has chosen Eze OMS to enhance its fixed income strategies, replacing its previous provider. With over $8.5 billion in assets under management, Bardin Hill aims to consolidate operations on a single platform, leveraging Eze OMS's extensive capabilities across various investment types. This partnership enhances trading workflows and overall efficiency, especially during the pandemic, reflecting SS&C's business continuity. Bardin Hill's operations will also benefit from streamlined data integration with SS&C Geneva.
On September 2, 2020, SS&C Technologies Holdings (Nasdaq: SSNC) announced that Implemented Portfolios has selected its Global Wealth Platform (GWP) for investment administration and reporting for individually managed accounts (IMAs). Implemented Portfolios extended its GWP license, emphasizing SS&C's expertise in the Australian market. Both companies aim to enhance technology for IMAs, signaling a commitment to innovation. GWP is tailored to address IMA complexities without extensive customization, enhancing Implemented Portfolios' service capabilities.
SS&C Technologies Holdings has appointed Frank Egan as Managing Director of Mergers & Acquisitions. With over 35 years in investment banking and venture capital, Frank brings extensive experience, having previously been Managing Partner at Lake Bridge Capital Ventures and served at notable firms like Northwater Capital. CEO Bill Stone expressed enthusiasm for Frank's appointment, citing his deep understanding of the technology space. SS&C, a provider of services and software in financial services and healthcare sectors, operates globally, serving around 18,000 organizations.
SS&C Technologies has launched its Global Investor and Distribution Solutions (GIDS), aimed at enhancing global transfer agency and investor servicing. GIDS is built on a unified global servicing platform that offers clients data-driven insights, intelligent automation, and advanced digital tools. Nick Wright has been appointed as Head of GIDS, tasked with overseeing strategy and client delivery. This initiative positions SS&C as the largest global transfer agency provider, servicing over 55 million investors across multiple countries, including the U.S. and Europe.
The SS&C GlobeOp Forward Redemption Indicator for August 2020 is reported at 3.08%, up from 2.64% in July. This figure shows a decrease in redemption notices compared to 3.41% in August 2019, indicating strong investor confidence in the hedge fund sector post-COVID. The forward redemptions as a percentage of assets under administration have significantly declined from a high of 19.27% in November 2008. The next indicator release is scheduled for September 22, 2020.
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