A Windsor-based fintech has snatched up a leading financial technology provider for the global banking, deal making and capital market communities.
SS&C Technologies Holdings Inc., a global provider of investment and financial software-enabled services, announced yesterday that it will acquire Intralinks Holdings Inc. from the affiliates of Siris Capital Group for $1.5 billion. The purchase price will consist of $1 billion in cash and $500 million in SS&C stock, with the per share price of the stock based on the volume weighted average trading price for 30 trading days prior to closing.
As part of the deal, Frank Baker, Siris’ co-founder and managing partner, is expected to join the SS&C board of directors following the closing.
“Intralinks brings a wealth of expertise and a leadership position in the data sharing and collaboration technology space,” Bill Stone, chairman and CEO of SS&C Technologies, said in a statement. “Intralinks and SS&C share many of the industry’s largest customers and together we are well-positioned to meet the needs of major banks, alternative funds and other corporations seeking to automate document-centric, collaborative workflows.”
Intralinks facilitates strategic initiatives including mergers and acquisitions, capital raising and investor reporting by enabling and securing the flow of information. The company innovates to enhance the value, speed and confidentiality of deal making, reporting and communications.
Intralinks also provides an investor communications platform for private equity and hedge fund professionals with the largest hosted community of general and limited partners for the alternative investments industry.
“I have been privileged to lead Intralinks through an exciting period in which we refocused the business on delivering innovative technology to the financial services sector,” Leif O’Leary, CEO of the company, said in a statement. “Intralinks’ acquisition by SS&C is a testament to the progress we have made toward our strategic objectives, and we are excited to deliver even more value to our customers as a combined business.”
SS&C Technologies has secured up to $1 billion of fully committed financing from Deutsche Bank, Citigroup, RBC Capital Markets and Credit Suisse. The transaction, which is expected to be immediately accretive to SS&C’s adjusted earnings per share, is expected to close in the fourth quarter of 2018 and is subject to clearance by the relevant regulatory authorities and other customary closing conditions.
