SS&C Technologies has agreed to acquire financial technology provider Intralinks Holdings from affiliates of Siris Capital Group in a deal valued at around $1.5bn.
Intralinks is a cloud-based financial technology provider for the global banking, deal making and capital markets.
The transaction is comprised of $1bn in cash and $500m in SS&C stock.
Intralinks CEO Leif O’Leary said: “Intralinks’ acquisition by SS&C is a testament to the progress we have made toward our strategic objectives, and we are excited to deliver even more value to our customers as a combined business.”
The firm is said to facilitate strategic initiatives such as mergers and acquisitions, capital raising and investor reporting by enabling and securing the flow of information.
Intralinks will optimize the value, speed and confidentiality of deal making, reporting and communications.
The company offers an advanced investor communications platform for private equity and hedge fund professionals with largest hosted community of general and limited partners for the alternative investments industry.
In 2017, Intralinks reported total revenues of $303m and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $115m.
Subject to clearance by the relevant regulatory authorities and other customary closing conditions, the deal is expected to complete in the fourth quarter of this year.
SS&C Technologies chairman and CEO Bill Stone said: “Intralinks and SS&C share many of the industry’s largest customers and together we are well-positioned to meet the needs of major banks, alternative funds and other corporations seeking to automate document-centric, collaborative workflows.”
In March this year, SS&C agreed to acquire North American fund administration business from CACEIS for an undisclosed sum.
ACEIS, an asset servicing banking group of Crédit Agricole, provides a range of services, including execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support and issuer services.
The company offers access to a range of financial instruments, including equities, derivatives, Forex and securities lending.
Established in 1986, SS&C offers investment and financial software-enabled services and software for the global financial services and healthcare industries.