SS&C To Buy Eze Software For $1.45 Bln - Quick Facts

(RTTNews) - SS&C Technologies Holdings, Inc. (SSNC) announced a definitive agreement wherein SS&C will acquire Eze Software from TPG Capital in an all-cash transaction of $1.45 billion. Headquartered in Boston, Eze Software serves asset managers, including a mix of hedge fund, long-only asset manager, multi-manager and asset owner clients. The transaction is expected to close by the fourth quarter of 2018.

Eze Software is a global provider of investment management solutions designed to optimize operational and investment alpha throughout the entire investment process. In 2017, Eze Software had total revenues of $280 million and adjusted EBITDA of $105 million.

SS&C expects $30 million of run-rate costs savings, achieved by 2021. SS&C plans to fund the acquisition with a combination of cash and term loan debt. The transaction is expected to be immediately accretive to adjusted earnings per share. SS&C said the acquisition will add 1,050 employees in 15 offices and more than 2,500 clients across five continents.