DST Global Solutions: SS&C Technologies acquisition of DST Global Solutions

SS&C Technologies acquisition of DST Global SolutionsSS&C Technologies, a financial services technology provider based inWindsor, Conn., announced it has acquired DST Global Solutions,a subsidiary of DST Systems, for $95 million in cash.HiPortfolio, an investment and fund accounting platform, and Anova,an investment data management and analytics platform, are among the DST Global products SS&C now owns with the acquisition."We expect a very close working relationship between our two organizations; we know and admire HiPortfolio and we are learningand are excited about Anova," SS&C Technologies chairman andCEO Bill Stone tells Buy-Side Technology. "We expect to cross-selland upsell DST products and services in to SS&C's client base and cross-sell and upsell our products and services into DST Global'sclient base."DST Global's foothold in several geographic markets, in addition to its clients and customers, is a major benefit of the acquisition,according to Stone. Currently, DST Global serves its 155 customerswith 390 employees in 12 offices."We view Europe, the Middle East, Africa and Asia Pacific as strategicgeographies, and this acquisition provides the talent, technology andclient base to accelerate growth," Stone also said in a statement."DST Global Solutions is a 390 person business with $60 to $65million in annual revenues, 90 percent of which comes from Europe,the Middle East, Africa and Asia Pacific. This $95 million investmentwill take integration and development, but we are excited about theopportunity."The buy is the most significant for SS&C since making waves throughoutthe industry with its $170 million purchase of Portia, a middle- andback-office operations platform, from Thomson Reuters in 2012.