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January 11, 2018 12:00 AM

SS&C Technologies Holdings to acquire DST Systems

Rick Baert
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    M&A or Merger and Acquisition text on black block

    SS&C Technologies Holdings on Thursday announced it will acquire financial and health-care servicing provider DST Systems for $5.4 billion in cash.

    SS&C, a financial services technologies company, will pay $84 a share for DST, which provides financial and operational technology to money management, brokerage, retirement services and health-care firms.

    SS&C previously acquired DST Global Solutions, DST's investment accounting and analytics business, in 2014. William Stone, SS&C chairman and CEO, said in a news release that the acquisition of DST Systems will "build on the relationship" since DST Global Solutions was acquired.

    Stephen Hooley, DST chairman, president and CEO, will be joining SS&C, though his role has not been determined, said an SS&C spokeswoman. Other details on the integration of DST into SS&C have not yet been determined, she added.

    The deal is expected to close by the end of the second quarter.

    Credit Suisse and Morgan Stanley were financial advisers to SS&C; Bank of America Merrill Lynch was financial adviser to DST.

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