WINDSOR,
Conn., Sept. 30, 2024 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today announced it
has completed its acquisition of Battea-Class Action Services, LLC,
a market-leading provider of securities class action claims and
settlement recovery services. The purchase price is approximately
$670 million, subject to certain
adjustments.
SS&C funded the purchase with a combination of debt and
cash. SS&C expects the transaction to be
accretive over the next 12 months.
More than 100 Battea employees, based in
Stamford, Conn., San Francisco and Copenhagen, joined SS&C.
"We are pleased to
welcome Battea's employees, customers and
partners," said Bill Stone,
SS&C's Founder and CEO. "We see natural synergies
between Battea and
SS&C. Battea helps over 900 banks, asset
managers, hedge funds and proprietary trading
firms receive the maximum distribution of entitled
settlements. We look forward to working together to bring
these sophisticated new capabilities to clients."
SS&C was advised by Davis
Polk & Wardwell LLP. Keefe, Bruyette &
Woods, Inc. served as exclusive financial advisor
to Battea, and Sidley Austin LLP served as legal advisor
to Battea in connection with the transaction.
About Battea-Class Action Services
Battea-Class Action Services is a global leader and expert in
all stages of filing and processing settlement claims in connection
with antitrust and securities litigation. The company has been the
global leader in the space for more than 20 years, serving over 900
institutions around the world, including many of the world's
largest banks, hedge funds, asset managers and buy-side investors.
Battea is optimally positioned to help clients navigate the
increasingly complex process of obtaining trustworthy information
about litigation settlements that impacts their investments and
businesses.
About SS&C Technologies
SS&C is a global provider of services and software for the
financial services and healthcare industries. Founded in 1986,
SS&C is headquartered in Windsor,
Connecticut, and has offices around the world. Some 20,000
financial services and healthcare organizations, from the world's
largest companies to small and mid-market firms, rely on SS&C
for expertise, scale, and technology.
Additional information about SS&C (Nasdaq:SSNC) is
available at www.ssctech.com. Follow SS&C on Twitter,
Linkedin and Facebook.
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SOURCE SS&C