WINDSOR, Conn., Dec. 15, 2016 /CNW/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced it has acquired Conifer Financial Services, LLC ("Conifer"), an independent asset services firm for an aggregate purchase price of $88.5 million, subject to customary adjustments. Senior management of Conifer will continue to lead the business.
Conifer has 200 clients worldwide representing $110 billion of combined assets under administration (AUA). Headquartered in San Francisco and with offices in New York, Singapore and Nova Scotia, Conifer services pensions, endowments, foundations, family offices, RIAs, traditional asset managers, private equity and hedge funds. The acquisition strengthens SS&C's market position on the West Coast and provides a wider array of services to a growing customer base in foundations and endowments, pensions, and outsourced CIO portfolios.
"Conifer shares SS&C's vision on delivering high quality services to solve real customer problems. We are delighted to add its talented team to our roster," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "We look forward to leveraging our technology and services to immediately deliver greater value to existing and new clients."
Conifer has a reputation for quality based on strong customer relationships. In November, Conifer received record scores for the fourth year in a row in the 2016 Global Custodian Hedge Fund Administration survey and achieved 'global outperformer' status. Accompanying the survey's numerical results were comments from Conifer's clients, many of which highlighted the firm's premier client services.
"Joining with SS&C will allow us to accelerate our growth plans and pace of innovation," said Jack McDonald, Conifer's Chief Executive Officer. "SS&C's innovations in cloud and mobile technology are transforming asset servicing. We look forward to introducing this winning strategy to our customers and new markets."
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 10,000 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients manage an aggregate of over $44 trillion in assets.