SS&C Chairman and CEO Bill Stone commented, "We have been searching for the appropriate vehicle to complement our systems and business process outsourcing services. AFS' fund administration business fits in very nicely. We will be able to offer a broader range of global services to the fund community and we have an opportunity to further build this operation into a premier provider. We anticipate that this acquisition, which is subject to the negotiation and execution of a definitive agreement and the completion of certain regulatory
applications, will close in November 2003. We believe we have premium services to offer the hedge community and this business will help round out our offering." SS&C will operate the fund administration business, to be named SS&C Fund Services, as part of its Hedge and Family Office market vertical.
Toine Knipping, Managing Director of Amicorp Holding Ltd., commented, "Amicorp Fund Services has a good business which is at a crossroads in terms of technology deployment and global reach. We felt combining with a strong technology company gave this business the best opportunity to grow and prosper. We look forward to working with SS&C on a variety of exciting opportunities."
