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SS&C Buys Advent Software

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Windsor-based SS&C Technologies Holdings is buying San Francisco-based Advent Software, Inc. for about US$ 2.3 billion in cash. The total transaction value is US$ 2.7 billion with debt included. Due to the global financial crisis, more financial data providers are merging to save money on costs. SS&C is paying US$ 44.25 per share, a 7% premium to Advent’s Monday closing price. Both SS&C and Advent’s Board of Directors have unanimously approved the deal.

SS&C has been on a buying spree acquiring DST Global Solutions in December 2014 and GlobeOp earlier. SS&C bought DST to have a larger presence in EMEA and the Asia-Pacific region. 90% of DST’s revenues come from those regions.

Bill Stone, Chairman and Chief Executive Officer of SS&C said in a press release, “The acquisition reinforces our focus on our clients. Advent Software, combined with SS&C’s complementary offerings in SaaS, middle office services, regulatory solutions, mobile applications and FIX, is unmatched. One Advent product, Geneva ®, already has 2,400 SS&C personnel using it everyday. Black Diamond® is a premier product in the registered investment advisor market and we look forward to continuing Black Diamond’s success. Advent Portfolio Exchange®, Axys®, Moxy®, and the entire product portfolio adds depth and breadth. We are excited to have Pete Hess and his team and the entire Advent community. We intend to continue our combined strengths in innovation, client focus and employee opportunity.”

SS&C was advised by Deutsche Bank and Morgan Stanley. The legal advisor for SS&C was Davis Polk & Wardwell LLP. Advent Software was advised by Qatalyst Partners and Wilson Sonsini Goodrich & Rosati.

Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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