WINDSOR, Conn., Dec. 2, 2019 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the completion of the acquisition of Algorithmics and related assets from IBM.
The addition of Algorithmics will extend SS&C's risk analytics and regulatory offering. Supported by a global team of risk experts based in all major financial centers, Algorithmics' solutions and technology address market, credit, and liquidity risk, as well as capital management. Algorithmics' cloud-based technology will add micro-services within SS&C's platform.
The acquisition adds more than 200 clients, 350 employees, and offices in 25 countries. Algorithmics' clients include banks, insurance companies, broker-dealers, asset managers, hedge and private equity funds, and service providers.
"We are pleased to welcome Algorithmics' clients and skilled personnel," said Bill Stone, Chairman and Chief Executive Officer of SS&C. "Enterprise risk is a growing concern for our financial services clients, and Algorithmics' innovative, cloud-based approach delivers real-time predictive analytics."
Certain information contained in this press release constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, performance, underlying assumptions, and other statements that are other than statements of historical facts. Such statements reflect management's best judgment based on factors currently known but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, the state of the economy and the financial services industry and other industries in which the Company's clients operate, and the other risks discussed in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission and can also be accessed on our website. Forward-looking statements speak only as of the date on which they are made and, except to the extent required by applicable securities laws, we undertake no obligation to update or revise any forward-looking statements.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
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