SS&C Technologies has announced the acquisition of investment communications technology provider Varden Technologies for an undisclosed amount.
SS&C's latest acquisition follows deals for Citigroup's Alternative Investor Services business, including Hedge Fund Services and Private Equity Fund Services, for $425 million last month, and July's mammoth $2 billion purchase of Advent Software.
Boston-based Varden Technologies offers a suite of reporting and communications platforms, including eReportal which creates reports that source data from multiple sources, including systems for accounting, risk, trading, and other analytics.
"This acquisition creates a compelling advantage for SS&C customers as they access, attract and manage assets," says Bill Stone, chairman and CEO of SS&C. "Combining Varden's end-to-end communication solution with SS&C is a milestone in our strategy to simplify operations for our customers."
Bloomberg's Gerard Francis comes on the podcast to talk about how data fragmentation issues are becoming more challenging.Subscribe to Weekly Wrap emails