Windsor-based financial services software firm SS&C Technologies has reached a deal to acquire Hubwise Holdings Limited, a business-to-business investment platform serving advisors and wealth managers.
In a statement, SS&C said it will buy Hubwise in an all-cash transaction, adding 58 employees and 51 clients.
Financial details of the arrangement were not disclosed.
The linkup is expected to help SS&C better target the retail market in the U.K., where Hubwise is based, and to enhance the company’s ability to help customers create highly automated and efficient multi-asset and multi-currency strategies, according to SS&C Chairman and CEO Bill Stone.
“This acquisition brings significant value to our customers engaged in delivering first-class investment and advisory services to their investors,” Stone said. “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.”
The transaction is set to close some time next year, SS&C officials said.
