Windsor-based SS&C Technologies Holdings has acquired a cloud-based asset management platform for $18 million.
MineralWare, based in Fort Worth, Texas, was founded in 2014. Its platform focuses on managing minerals, royalties and non-operated working interests.
MineralWare provides services to financial institutions, universities and foundations, high-net-worth individuals and family offices, along with mineral and royalty acquisition companies in the U.S.
SS&C is a global provider of services and software for the financial services and healthcare industries.
MineralWare will operate within the SS&C Innovest businesses. The deal will add 350 institutional and high-net-worth clients and $5.5 million in annual recurring revenue to SS&C, with a combined portfolio of 750,000 mineral assets.
“MineralWare facilitates the tracking of land and revenue management on a single platform providing comprehensive mineral and royalty income management as well as streamlining reporting, forecasting and analysis,” said Glenn Schmidt, general manager, SS&C Innovest.
The acquisition will expand SS&C’s asset accounting capabilities, the company said.
