Information Management | Surbiton, UK | Corporate Acquisition
Financial services software company SS&C Technologies has agreed to acquire DST Systems, a provider of information processing and servicing technologies, for $84 per share in cash plus the assumption of debt, representing an enterprise value of some $5.4 billion. DST generated $2.3 billion in revenue for the year ended September 30. By 2020, SS&C anticipates $150 million in annual synergies. Shares of SS&C (NASDAQ: SSNC) gained close to 6% Thursday, while DST (NYSE: DST) added 5%.