Anthony is on vacation, but that doesn't mean his opinions have gone silent.
As I write this, I'm in North Carolina visiting family. Not surprisingly, when I take a break from work I tend not to have my finger on the pulse of the financial technology world.
But one thing in the news did catch my eye today: SS&C Technologies has bought Thomson Reuters' Portia business, which is an investment operations platform geared toward the buy side.
I haven't had the opportunity to delve into this acquisition more, but my initial reaction is that this is quite a coup for SS&C, which will add more than 140 staff members around the globe. As long as SS&C can keep the ship steered in the right direction, this should be a beneficial acquisition for portfolio managers because of the synergies that this could potentially create for SS&C's suite of products.
For Thomson Reuters, the data provider is now reportedly $170 million richer, which might be necessary in light of recent changes throughout the vendor, which were covered extensively by sibling publication Inside Market Data. And Thomson Reuters has already let it be known that other legacy programs are available for purchase.
These are just my initial thoughts, but I'll be sure to look into this once I return to New York on Monday. In the meantime, if you have any thoughts on this acquisition, send me an email at email@example.com.
More from Buy Side Technology
Updating your subscription status
Winner's Announced: Buy-Side Technology Awards 2014
The winners of the 8th annual Buy-Side Technology Awards 2014 were announced in London on November 7, recognizing the leading technologies and vendors in their area of expertise, through an auditable and transparent methodology . To view the winners across the 31 categories click here.
The catalyst for change in client reporting is a more empowered, digitally aware consumer. Excellence of service delivery will be key to investment managers...
Without a consistent source of data and limited functionalities in existing systems, firms are unable to perform tasks that are becoming increasingly important...