SS&C Technologies, an investment and financial software-enabled services company, has agreed to acquire investment technology developer Eze Software from TPG Capital, in a deal worth $1.45bn.
Eze was initially acquired by TPG in 2013 from ConvergEx Group, for an undisclosed amount.
Boston-based Eze is an investment technology developer that creates a seamless investment management service for buy-side professionals by synchronising data throughout the trade lifecycle.
Its technology helps with maximising efficiencies across trade order management and execution, portfolio analytics and modelling, operations, compliance and regulatory reporting, commission management, and portfolio management and accounting.
The companyâ€™s portfolio management services give users to access real-time visibility to their investments, risk scenario analysis tools, compliance monitoring, reporting, and cash management tools, among others.
Eze Software CEO & president Jeffrey Shoreman said, “Over the last five years, TPGâ€™s investment enabled Eze Software to invest continuously in R&D, which culminated in the integration of Eze Investment Suite and the creation of our new cloud platform, Eze Eclipse.
â€œJoining forces with SS&C accelerates our vision for an open, seamless, and fluid investment ecosystem by combining the power of our leading software, administration, and outsourcing services.”
SS&C develops investment and financial software-enabled services and software for financial services and healthcare firms. Products created by SS&C have been used across the alternative investments, asset management, wealth management, banking, lending, insurance, accounting and property management industries.
Itâ€™s asset management solutions can help an investor cover their entire investment and portfolio management tasks, as well as improving operations, lowering risk and boosting compliance.
Earlier in the year, the Investment Association launched a FinTech accelerator dedicated to technology companies operating within the asset management space. The debut cohort will be made up of 10 startups and will take part in a six-month program.
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