1. SS&C acquired Curo Fund Services to expand in South Africa. 2. Curo administers over R 3 trillion in assets, enhancing SS&C's offerings. 3. 300 employees from Curo will strengthen SS&C's local capabilities. 4. The merger aims to boost fund administration and market share regionally. 5. Bill Stone emphasized improved efficiency and data-driven insights for clients.
The acquisition significantly enhances SS&C's presence in a rapidly growing market, which can lead to increased revenues and market share. Similar previous acquisitions in emerging markets have positively influenced stock performance due to enhanced growth opportunities.
The significance of this acquisition reflects SS&C's strategy for geographical diversification and technological integration, precisely aligning with investor interests in growth and market expansion.
This acquisition positions SS&C for sustained growth in the South African and broader African markets, appealing to institutional investors. Historical examples show that strategic acquisitions, such as those by global firms in emerging markets, lead to long-term profitability.
The acquisition will grow SS&C's business in South Africa
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has completed the acquisition of Curo Fund Services, a leading South African provider of fund administration solutions, from a joint venture between Sanlam and Old Mutual. Terms of the deal were not disclosed.
Curo Fund Services administers more than R 3 trillion (USD 170.4 billion) in assets and services Sanlam, Old Mutual and third-party institutional clients. Around 300 employees have joined SS&C in Cape Town. The team will be part of SS&C Global Investor & Distribution Solutions, led by Nick Wright. The merger will provide South African clients with access to SS&C's automation, data and global operational expertise. Curo is positioned to expand its fund administration offerings, grow market share and accelerate growth across South Africa and the African continent.
Curo Fund Services already leverages several of SS&C's fund accounting and asset servicing technologies. The transaction will not affect Curo's existing client administration arrangements. SS&C's global scale and expertise will enable enhanced solutions and improved service delivery. All parties are committed to ensuring a seamless transition.
"We are excited to welcome Curo's employees and clients to SS&C," said Bill Stone, Chairman and CEO, SS&C. "The team brings deep client relationships and a proven service track record in the growing South African market. Together, we will deliver a robust and comprehensive suite of solutions to the region's insurers, asset managers and institutional investors. We look forward to working together to bring greater efficiency, data-driven insights and integrated services to the region."
About Curo
Curo Fund Services is a South African-based fund administrator servicing more than R3 trillion in assets on behalf of a wide range of financial services clients. With deep industry expertise and a strong record of operational delivery, Curo provides asset managers, investment platforms, and institutional investors with comprehensive fund accounting, investor administration, and regulatory reporting services.
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 23,000 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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For more information
Brian Schell
Chief Financial Officer
SS&C Technologies
Tel: +1-816-642-0915
E-mail: InvestorRelations@sscinc.com
Justine Stone
Investor Relations
SS&C Technologies
Tel: +1- 212-367-4705
E-mail: InvestorRelations@sscinc.com
Media Contacts
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