Acquisition addresses growing number of customers that need help to originate, buy, sell and securitize loans
SS&C Technologies Holdings, Inc. ("SS&C") (Nasdaq: SSNC), a leading global provider of financial services software and software-enabled services, today announced the completion of its acquisition of Primatics Financial Holdings, Inc., ("Primatics").
The transaction will broaden SS&C's portfolio in the banking space. Primatics' EVOLV platform is a leading cloud-based integrated risk, compliance and finance solution designed to tackle the end-to-end process impacting the loan lifecycle. Through the acquisition, SS&C will acquire a world-wide workforce of 384 employees with deep expertise and trusted relationships. Primatics is well recognized by customers and analysts.
"Today SS&C has added significant value to its integrated solution portfolio and deepened our loan expertise," commented Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Originating, buying, servicing, securitizing, reserving, selling and reporting throughout the loan lifecycle creates tremendous value. Primatics' cloud-based EVOLV solution is already widely adopted among North American banks and we're excited to leverage Primatics intellectual property."
"Joining with SS&C will enable us to accelerate our plans and innovation and introduce our solution to new markets. Together we form a powerful combination, share a common passion for customer-driven innovation, and are well positioned to enable our customers to operate more efficiently," said Jeff Sant, Co-Founder and EVP, Primatics.
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