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SS&C Technologies Acquires FPS Trust

1. SS&C acquires FPS Trust Company to enhance payment solutions. 2. FPS Trust specializes in services for banks and retirement plans. 3. The acquisition strengthens partnerships and expands service capabilities. 4. SS&C Innovest previously collaborated with FPS Trust on services. 5. This move is expected to optimize custodial offerings for clients.

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FAQ

Why Bullish?

The acquisition enhances service offerings, indicating potential revenue growth, similar to past successful integrations.

How important is it?

This acquisition directly impacts SS&C's service capabilities and market position, likely influencing investor perception.

Why Long Term?

The acquisition may take time to realize benefits, akin to similar past deals by SS&C.

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IPXSSNC
The acquisition solidifies SS&C's commitment to proving scalable benefit payment solutions to their institutional clients. , /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the acquisition of FPS Trust Company, a non-depository trust company, from IPX Retirement. FPS Trust focuses on providing services to banks and institutional retirement plan providers. Financial terms were not disclosed. Based in Centennial, Colorado, FPS Trust offers high-volume beneficiary distributions, paying agent services and tax processing solutions to institutional trustees and retirement plan administrators. FPS Trust will operate within SS&C Innovest. Previously, SS&C Innovest partnered with FPS Trust to provide paying agent services to their existing clients on the SS&C InnoPay high-volume employee benefit payment processing platform. "We are excited to welcome the FPS team to SS&C," said Glenn Schmidt, General Manager of SS&C Innovest. "The acquisition allows us to build on an already strong partnership as part of a single organization. Together, we can further enhance the managed services we provide to our institutional customers as we support them in delivering excellent, scalable service to their clients." "The integration of FPS Trust and SS&C will enable SS&C to extend its range of services, particularly those offered to wealth managers issuing taxable distributions on the SS&C Trust Platform," said Bill Mueller, CEO of IPX Retirement. "SS&C is now well positioned to further expand on the synergies with SS&C Managed Services and optimize their custodial offerings to institutional trustees and bank trust companies." About IPX Retirement IPX Retirement is a leading provider of trust, custody, IRA, and recordkeeping services to the retirement plan industry. Our innovative multi-vendor, multi-provider approach delivers superior value for financial advisors, plan sponsors, investment providers, TPAs, and the investors they serve. 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. More than 20,000 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 aboutSS&C (Nasdaq:SSNC) is available at www.ssctech.com.Follow SS&C on X, Linkedin and Facebook. SOURCE SS&C WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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