SS&C completes $1.45 billion acquisition of Eze Software

SS&C Technologies completes purchase of Eze Software shortly after State Street completes its acquisition of Charles River.

SS&C Technologies has completed its $1.45 billion acquisition of investment management software services provider Eze Software.

First announced in July, the deal is the latest trend of back- and middle-office service providers bolstering their front-office capabilities, as State Street completes its own acquisition of investment software services provider Charles River Development.

The acquisition of Eze Software will add 1,050 employees in 15 offices and more than 2,500 clients across five continents to SS&C Technologies.

“We are pleased to welcome Eze clients and employees,” said Bill Stone, chairman and chief executive officer of SS&C Technologies. “The addition of Eze aligns with SS&C’s innovation strategy to transform investment operations. SS&C gives Eze the global scale and services infrastructure to accelerate its already impressive momentum.”

Eze Software provides execution management systems (EMS) and order management systems (OMS) to asset managers and has itself acquired companies to improve its products and services.

The company exists today as a combination of Eze Castle Software, RealTick, and Tradar. In 2017, Eze Software had total revenues of $280 million and Adjusted EBITDA of $105 million. SS&C reiterated that it expects $30 million of run-rate costs savings achieved by 2021 and plans to fund the acquisition with a combination of cash and term loan debt.

SS&C’s acquisition of Eze Software marks the third deal this year for the company which is renowned for acquisitions, particularly in the fund administration world after acquiring the businesses of Citi, Wells Fargo and Conifer in recent years. 

The firm also made a bid for trading technology vendor Fidessa in April, however it was eventually bought by ION Investment Group for £1.5 billion.