SS&C Acquires Tier1's CRM Business

Rhea-AI Summary

SS&C Technologies (Nasdaq: SSNC) announced the acquisition of Tier1 CRM from Tier1 Financial Solutions in an all-cash deal. This strategic acquisition is set to enhance SS&C's Customer Relationship Management offerings, particularly targeting capital markets and investment banks. With this deal, SS&C adds over 30 enterprise clients across the U.S., Canada, and the U.K., and integrates Tier1’s 60+ employees. SS&C aims to leverage Tier1 CRM's capabilities to optimize customer engagement and operational efficiency in its services.

Positive

• Acquisition expands SS&C's CRM capabilities targeting capital markets and investment banks.
• Gains 30+ enterprise clients across the U.S., Canada, and the U.K.
• Integration of 60+ skilled employees enhances operational capacity.

Negative

• None.

The acquisition will complement and extend SS&C's Customer Relationship Management (CRM) offerings

WINDSOR, Conn., Aug. 23, 2022 /PRNewswire/ --  SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced it has acquired the sell-side Tier1 CRM business and related assets from Tier1 Financial Solutions in an all-cash transaction. Tier1 CRM is a leading provider of sell-side CRM solutions targeting capital markets and investment banks.

Based in Toronto, Canada, Tier1 CRM supplies CRM capabilities to sell-side financial services firms, including research, trading, and sales teams within capital markets groups, and provides a deal management CRM experience to investment banks. The acquisition will expand SS&C's CRM capabilities, targeting capital markets and investment banks, adding 30+ enterprise clients across the U.S., Canada, and the U.K. Tier1 CRM's 60+ employees in Canada and the U.S. will join SS&C, reporting to Derek Landi, Vice President and General Manager, SS&C Salentica.

"The sell-side Tier1 CRM business will be a strong addition to our CRM solutions business," said Landi. "We will add talented employees and respected clients to our roster with like-minded product architecture and deep client expertise. The combination of the Tier1 business and Salentica will allow us to better serve clients with CRM solutions purpose-built for their market."

"We are delighted to join the SS&C family," said Doug Christensen, Chief Operating Officer of Tier1 CRM. "Joining forces with SS&C allows the business to scale as the customer base grows, and provides complementary solutions to many of SS&C's existing products and businesses."

About Tier1 CRM

Tier1 CRM is a leading CRM solution, empowering clients to optimize customer engagement and increase operational efficiency. Tier1 delivers workflow-optimized experiences, prompted insights, and a centralized view of client interactions that drive revenue-generating engagements. Serving the unique needs of Capital Markets, Investment Banking, Investment Management, and corporate professionals, Tier1 advances client relationships and workflows with data-driven insights across desktop and mobile devices, empowering compliance, collaboration, transparency, and communication. Prior to the acquisition, Tier1 CRM was part of Tier1 Financial Solutions.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.

Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com. Follow SS&C on Twitter, Linkedin and Facebook.

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SOURCE SS&C

FAQ

What is the purpose of SSNC's acquisition of Tier1 CRM?

The acquisition aims to enhance SS&C's CRM offerings specifically for capital markets and investment banks.

When was the acquisition of Tier1 CRM by SSNC announced?

The acquisition was announced on August 23, 2022.

How will Tier1 CRM's acquisition impact SSNC?

It will expand SS&C's client base and improve its CRM capabilities, potentially leading to increased market share in financial services.

What is the significance of Tier1 CRM for SSNC?

Tier1 CRM provides critical solutions for sell-side financial services, allowing SS&C to enhance its service offerings.

How many clients did SSNC acquire with Tier1 CRM?

SS&C acquired over 30 enterprise clients through the acquisition of Tier1 CRM.