Acquisition addresses growing number of customers that need help to originate, buy, sell and securitize loans
WINDSOR, Conn., Nov. 16, 2015 /PRNewswire/ -- SS&C Technologies Holdings, Inc. ("SS&C") (Nasdaq: SSNC), a leading global provider of financial services software and software-enabled services, today announced the completion of its acquisition of Primatics Financial Holdings, Inc., ("Primatics").
The transaction will broaden SS&C's portfolio in the banking space. Primatics' EVOLV platform is a leading cloud-based integrated risk, compliance and finance solution designed to tackle the end-to-end process impacting the loan lifecycle. Through the acquisition, SS&C will acquire a world-wide workforce of 384 employees with deep expertise and trusted relationships. Primatics is well recognized by customers and analysts.
"Today SS&C has added significant value to its integrated solution portfolio and deepened our loan expertise," commented Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Originating, buying, servicing, securitizing, reserving, selling and reporting throughout the loan lifecycle creates tremendous value. Primatics' cloud-based EVOLV solution is already widely adopted among North American banks and we're excited to leverage Primatics intellectual property."
"Joining with SS&C will enable us to accelerate our plans and innovation and introduce our solution to new markets. Together we form a powerful combination, share a common passion for customer-driven innovation, and are well positioned to enable our customers to operate more efficiently," said Jeff Sant, Co-Founder and EVP, Primatics.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. Some 10,000 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $44 trillion in assets.
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