SS&C Technologies Acquires Primatics Financial - Quick Facts

(RTTNews) - SS&C Technologies Holdings, Inc. (SSNC), a global provider of financial services software and software-enabled services, announced the acquisition of Primatics Financial for approximately $122 million on a cash and debt free basis from The Carlyle Group. Headquartered in McLean, Virginia, Primatics is a leader in accounting, forecasting, regulatory reporting, reserving and stress testing solutions to financial institutions holding or acquiring loans.

Bill Stone, CEO, SS&C Technologies, said: "Primatics' cloud-based EVOLV solution is already widely adopted among North American banks and we're excited to further expand the opportunity to deliver complementary offerings to our customer base around the globe."

SS&C will integrate EVOLV with its portfolio of accounting software solutions - creating a comprehensive solution for any financial institution, insurance company or institutional asset manager that requires integrated accounting, statutory and entity reporting. Customers will be able to leverage the solution from SS&C through component outsourcing, full outsourcing or choose to deploy the services on a licensed basis.