SS&C Technologies, Inc., has announced Sunshine Acquisition Corp., affiliated with the private equity firm The Carlyle Group, completed the acquisition of SS&C Technologies. The aggregate consideration to be paid to SS&C stockholders and option holders is approximately $942 million.
SS&C entered into a merger agreement with Sunshine in August of this year. Under terms of the merger agreement, SS&C's stockholders are entitled to receive $37.25 per share in cash without interest. SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry.
Bill Stone, chairman and CEO of SS&C, believes the combination of Carlyle and SS&C will be a strong force in financial technology and services. "Carlyle's due diligence process was rigorous, and the advisers have worked hard to understand our company and help us raise the necessary funds to accomplish this transaction," he says. "The entire senior management team is motivated to continue our focus on customers and the quality growth of our product and services. This focus should provide the basis for continued excellent financial results."
SS&C stock will cease to trade on the NASDAQ national market and will be delisted. SS&C has appointed American Stock Transfer and Trust Co. as paying agent.
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