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Laxman Pai, Opalesque Asia: Financial software maker SS&C Technologies Holdings has agreed to buy Intralinks Holdings from Siris Capital Group LLC affiliates in a cash-and-stock deal worth about $1.5bn.
A press release from the provider of financial services software and software-enabled services said that the purchase price will consist of $1bn in cash and $500m in SS&C stock, with the per share price of the stock based on the volume weighted average trading price for 30 trading days prior to closing.
Acquisition increases key account footprint and adds cloud-based virtual data rooms and secure collaboration solutions for SS&C's banking and alternatives clients, said a statement from the company.
Intralinks provides the investor communications platform for private equity and hedge fund professionals with the largest hosted community of general and limited partners for the alternative investments industry.
Intralinks provides confidential cloud-based software that enables companies to securely manage, control, track, search, exchange and collaborate on sensitive information. According to Reuter's estimates, it has over 90,000 clients.
SS&C said Frank Baker, Siris's co-founder and managing partner, will join SS&C's board in connection with the deal, which is expected to close in the fourth quarter.
The release quoted Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies as saying: "Intralinks brings a wealth of expertise and a...................... To view our full article Click here
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