Bailey McCann, Opalesque New York: SS&C Technologies Holdings, Inc. a global provider of financial services software and software-enabled services, has announced its acquisition of GlobeOp Financial Services S.A. (GlobeOp). GlobeOp provides middle and back office services and integrated risk-reporting to hedge funds, asset management firms and other sectors of the financial industry. middle and back office services and integrated risk-reporting to hedge funds, asset management firms and other sectors of the financial industry.
The combined companies, including Portia business acquired by SS&C from Thomson Reuters in May 2012, had revenues of $635m in fiscal year 2011. The combined entity services more than 6,700 funds with $424bn in assets under administration. Both SS&C and GlobeOp will benefit from synergies across 80+ products and services.
The company has revised its yearly outlook to be more positive following the acqusition, according to a NASDAQ report on the matter. For full year 2012, the company anticipates adjusted net income to be in the range of $113m to $118m and revenues to be between $558.5m and $571m.
"We have already begun our integration and are coordinating on sales and marketing and we have significant synergies," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies in a statement. &q......................
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