M&A Deal Summary

SS&C Technologies Acquires Innovest Systems

On April 30, 2020, SS&C Technologies acquired financial services company Innovest Systems from Bluff Point Associates for 120M USD

Acquisition Highlights
  • This is SS&C Technologies’ 5th transaction in the Financial Services sector.
  • This is SS&C Technologies’ 12th largest (disclosed) transaction.
  • This is SS&C Technologies’ 32nd transaction in the United States.
  • This is SS&C Technologies’ 9th transaction in New York.

M&A Deal Summary
Date 2020-04-30
Target Innovest Systems
Sector Financial Services
Buyer(s) SS&C Technologies
Sellers(s) Bluff Point Associates
Deal Type Add-on Acquisition
Deal Value 120M USD

Target

Innovest Systems

New York City, New York, United States
Innovest Systems LLC is a provider of benefit disbursements, tax reporting, and document printing solutions to the employee benefits industry. The company's innovative solutions include automating monthly payments to printing and mailing secure documents; and helps great companies improve operating efficiencies, increase customer satisfaction, and grow their business.

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Buyer(S) 1

Buyer

SS&C Technologies

Windsor, Connecticut, United States
Category Company
Founded 1986
Sector Software
Employees26,600
Revenue 5.5B USD (2023)
DESCRIPTION

SS&C Technologies is a software provider to the global financial services industry with a broad range of highly specialized software, software enabled-services and software as a service (SaaS) solutions for information management, analysis, trading, accounting, reporting and compliance. SS&C Technologies was founded in 1986 and is based in Windsor, Connecticut.

DEAL STATS #
Overall 40 of 49
Sector (Financial Services) 5 of 6
Type (Add-on Acquisition) 30 of 37
State (New York) 9 of 9
Country (United States) 32 of 36
Year (2020) 3 of 4
Size (of disclosed) 12 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-21 Capita Life & Pensions Services

Dublin, Ireland

Capita Life & Pensions Services (Ireland) Ltd. provides business process management, technology, and consultancy services to the international life and pensions sector. With approximately 380 employees in Dublin, Belfast, and Craigforth, the business offers financial and back-office administration services, claims management, actuarial and financial reporting, investment administration, product and IT development, and business transformation services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 Millennium Consulting & Seminar Services

Raleigh, North Carolina, United States

Millennium Consulting & Seminar Services provides a broad array of consulting and training services to insurance companies and insurance regulators. Millennium Consulting & Seminar Services LLC was founded in 2003 and is based in Raleigh, North Carolina.

Buy -

Seller(S) 1

SELLER

Bluff Point Associates

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

Bluff Point Associates is a private equity firm that invests in middle-market information technology companies serving the financial services and healthcare industries. The Firm looks for control positions in growth-oriented companies with $3 to $30 million in revenue. Bluff Point Associates was formed in 2011 and is based in Westport, Connecticut.

DEAL STATS #
Overall 13 of 15
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 10 of 11
State (New York) 3 of 3
Country (United States) 13 of 15
Year (2020) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-10 Fi360

Pittsburgh, Pennsylvania, United States

Fi360, Inc. is a provider of fiduciary-focused software, data and analytics for financial advisors and intermediaries across the retirement and wealth ecosystem. Fi360 also provides the accreditation and continuing education for the Accredited Investment Fiduciary® (AIF®) Designation, the leading designation focused on fiduciary responsibility.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 True North Networks

Swanzey, New Hampshire, United States

True North Networks is a managed security service provider (MSSP) offering managed IT services, private cloud hosting and support to independent RIAs and other organizations of varying sizes across the country. The company partners with leading technology firms to provide information and network security and support, eliminating IT issues before they cause expensive downtime. True North Networks was founded in 2002 and is based in Swanzey, New Hampshire.

Buy -
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