Under the terms of the agreement, Financial Interactive (FI) stockholders will receive 495,000 shares of SS&C common stock and warrants to purchase another 50,000 shares.
FI is a supplier of CRM and fund profiling software. Its FundRunner product offers contact management, reporting, performance analytics, compliance and account management as a license or web-based program. The platform is also used to organize and track all constituent fund data and due diligence information.
FundRunner responds to a fundamental need of fund managers – investor communications, said SS&C CEO Bill Stone. With this acquisition, we will add to our comprehensive portfolio of product and services we can offer to the hedge fund market.
SS&C also bought fund accounting firm Eisnerfast for $25.3m in March this year, and recently completed a $159m acquisition of investment management software provider Financial Models Company.
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