WINDSOR, CT – April 12, 2004 – SS&C Technologies, Inc. (Nasdaq: SSNC) today announced it has closed the acquisition of OMR Systems Corporation and OMR Systems International Limited (OMR). SS&C purchased the outstanding stock of both subsidiaries from ADP Financial Information Services, Inc for $19.7 million in cash.
OMR provides treasury processing software and outsourcing solutions to banks and offers comprehensive hedge fund administration. OMR's TradeThru™ software is a multi-bank, multi-currency and multi-entity straight-through processing system, delivering fully automated, front-to-back office functionality. SS&C intends to include the TradeThru business in its financial institutions business. OMR's Xacct™ service provides hedge funds and other alternative investment managers with a scalable, back-office solution and will become part of the suite of products and services offered by SS&C's hedge fund and family office business.
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