Sept 6 – Financial software company SS&C Technologies Holdings Inc said on Thursday it would buy data-sharing platform Intralinks Holdings Inc in a deal valued at $1.5 billion, the latest effort by the company to expand beyond its core clientele of hedge funds and private equity firms.
Intralinks, which has over 90,000 clients, provides confidential cloud-based software, that enables companies to securely manage, control, track, search, exchange and collaborate on sensitive information.
Its offering also help deal professionals perform due diligence when buying and selling companies.
SS&C will pay $1 billion in cash and $500 million in stock to Intralinks’ private equity owner, Siris Capital Group LLC, the company said.
Reuters reported on Tuesday that the companies could announce a deal as early as this week.
SS&C has embarked on an acquisition spree. The company in July agreed to buy Eze Software for $1.45 billion, to cater more to buyside investors.
In April, the company closed a $5.4 billion deal to buy DST Systems Inc, to bulk up its products serving banks and healthcare institutions.
SS&C’s shares were up 2.8 percent at $56.75 in early morning trade on Thursday.
Evercore and RBC Capital Markets are financial advisers to Siris Capital Group and Intralinks, while Davis Polk & Wardwell LLP is the legal adviser to SS&C. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila)