SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced it has completed its acquisition of Hubwise Holdings Limited (“Hubwise”). Hubwise is a regulated B2B investment platform serving advisers, discretionary wealth managers and self-directed digital D2C propositions.
“We are pleased to announce the completion of this strategic acquisition for SS&C,” said Bill Stone, Chairman and CEO. “The partnership demonstrates our commitment to the global wealth marketplace across the full spectrum of self-serve and adviser-driven propositions.”
Under the terms of the agreement, approved by Hubwise shareholders, SS&C purchased the firm in an all-cash transaction. The acquisition adds 58 employees serving 51 customers in the U.K. Angus MacDonald will continue to lead Hubwise and report to Nick Wright, Head of Global Investor and Distribution Solutions (GIDS). SS&C is the largest global transfer agency provider, servicing more than 55 million investors.
Following the acquisition, SS&C will leverage its scale and investment in digital services to target the U.K.-advised retail investment market. The addition of Hubwise enhances SS&C’s capacity to help customers create highly automated and efficient multi-asset, multi-currency and multi-wrapper strategies.
“We are all excited that the change of control is complete. Now, Hubwise can focus on delivering service excellence to our customers while adding more strategic value for our customers to leverage through the broader SS&C partnership,” said Angus Macdonald, Chief Executive Officer at Hubwise.