SS&C Makes Bid For Australian Financial Tech Developer GBST

SS&C Technologies enters a nonbinding proposal to acquire GBST but is facing competition for the financial technology company.


SS&C Technologies Holdings, a provider of financial management and investment technology and services to a wide range of markets, Monday said it has entered a nonbinding proposal to acquire GBST Holdings.

GBST is an Australia-based provider of financial technology, including its Syn suite of business process automation offerings, its Composer and Catalyst wealth administration technologies, and its Emu technologies for financial institutions, retail brokers and institutional brokers.

Windsor, Conn.-based SS&C said it has offered to acquire GBST for 221 million Australian dollars, or about $155 million.

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[Related: After Eze Software Acquisition, SS&C Reshuffles Exec Team]

SS&C declined a CRN request to provide further information on the planned acquisition.

U.K.-based publisher Global Custodian Monday said U.K.-based financial technology company FNZ also is bidding about $165 million for GBST, while Australian fund administrator Bravura Solutions had made an offer for GBST, which it subsequently pulled.

SS&C in 2018 made three acquisitions, including the $1.45 billion acquisition of Boston-based Eze Software, the $1.5 billion acquisition of Intralinks Holdings and the $5.4 billion acquisition of DST Systems.