WINDSOR: SS&C Technologies Holdings Inc. (Nasdaq: SSNC) has entered into a definitive agreement to acquire Hubwise Holdings Limited.
Hubwise is a regulated U.K. B2B investment platform serving advisers, discretionary wealth managers and self-directed digital D2C propositions.
Under the terms of the Agreement, approved by the shareholders of Hubwise, SS&C will purchase Hubwise in an all-cash transaction. The acquisition adds 58 employees serving 51 customers in the U.K. The transaction is expected to close in 2022, subject to customary closing conditions, including regulatory approvals.
The acquisition enables SS&C to leverage its scale and investment in digital services to target the U.K.-advised retail market, complementing its market-leading solutions for asset managers and discretionary wealth managers. The addition of Hubwise enhances SS&C’s capabilities in helping its customers to create highly automated and efficient multi-asset, multi-currency and multi-wrapper strategies.
“We are delighted to welcome the Hubwise team and customers to SS&C. This acquisition brings significant value to our customers engaged in delivering first-class investment and advisory services to their investors,” said Bill Stone, Chairman and CEO.
“Adding Hubwise is a natural step for our successful existing partnership. In addition, the combination of SS&C and Hubwise will create a unique solution for the adviser and distributor community to better address increasing competitive and regulatory pressures.”
“We are thrilled to combine forces with SS&C because we have so many complementary strengths. We look forward to becoming a strategic component of the firm’s wealth and adviser business in the region,” said Angus Macdonald, Chief Executive Officer at Hubwise. “Further, the acquisition opens an exciting chapter for our employees and customers.”
Hubwise Securities is a ground-breaking, innovative and regulated technology business, founded in 2012 and developed by a group of highly experienced financial services professionals.
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 18,000 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.
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