Windsor-based financial services software company SS&C Technologies has completed its acquisition of business technology firm Hubwise.
Hubwise, which is based in the U.K., operates a regulated business-to-business investment platform serving advisers, discretionary wealth managers and self-directed digital direct-to-consumer propositions.
SS&C first announced plans to buy Hubwise in an all-cash deal back in December, but did not say how much it would be paying. Financial details of the transaction remain undisclosed.
SS&C expects to gain 58 employees from the linkup. Hubwise’s founder and current CEO, Angus MacDonald, will continue to lead the company as a unit of SS&C, reporting to Nick Wright, head of global investor and distribution solutions.
“We are pleased to announce the completion of this strategic acquisition for SS&C,” said Chairman and CEO Bill Stone. “The partnership demonstrates our commitment to the global wealth marketplace across the full spectrum of self-serve and adviser-driven propositions.”
SS&C officials said the Hubwise acquisition will allow the company to better target the U.K.-advised retail investment market. The addition of Hubwise technology will also enhance SS&C’s capacity to help customers create highly automated and efficient multi-asset, multi-currency and multi-wrapper strategies, they said.
SS&C has offices across the U.S. and around the world, including sites in London and Warrington, England.
