SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has successfully completed its acquisition of the managed funds administration (MFA) business from Iress Limited. This strategic move expands SS&C’s capabilities in Australia and reinforces its position as a global leader in providing software and solutions to asset managers. Around 150 team members from the MFA business have joined SS&C Global Investor & Distribution Solutions.
Key Points
Acquisition Completion: SS&C Technologies Holdings has finalized its acquisition of Iress Limited’s managed funds administration (MFA) business.
Team Integration: Approximately 150 team members from the MFA business have become part of SS&C Global Investor & Distribution Solutions. They will report to Euan McLeod, Head of Transfer Agency, APAC.
Strategic Expansion: SS&C’s acquisition of the MFA business aligns with the company’s strategy to enhance its presence in Australia and offer comprehensive solutions to the growing market.
Enhancing Services: SS&C is committed to streamlining operations, reducing risk, strengthening compliance, and enhancing client service for asset managers globally.
Forward-Looking Statements: The press release includes forward-looking statements, reflecting management’s judgment and subject to risks and uncertainties. SS&C undertakes no obligation to update these statements except as required by applicable securities laws.
About Iress
Iress (IRE.ASX) is a technology company that provides software solutions to the financial services industry. Their software and services cover various segments, including trading, market data, financial advice, investment management, mortgages, superannuation, life and pensions, and data intelligence. With over 10,000 businesses and 500,000 users worldwide, Iress plays a significant role in the financial services technology landscape. The company has a global presence with over 2,000 employees based in Asia-Pacific, North America, Africa, the U.K., and Europe.
The completion of the acquisition of Iress Limited’s managed funds administration business by SS&C Technologies Holdings marks a strategic step in expanding SS&C’s presence in Australia and enhancing its offerings to asset managers. This move demonstrates SS&C’s commitment to providing comprehensive solutions, streamlining operations, and serving its clients more effectively in the financial services industry.
