Skip to main content

Market Overview

SS&C Seeks To Acquire Mainstream At $63.3% Premium

Share:
SS&C Seeks To Acquire Mainstream At $63.3% Premium
  • Financial technology company SS&C Technologies Holdings Inc (NASDAQ: SSNCinked a conditional Scheme Implementation Deed to acquire Mainstream Group Holdings Limited at A$2 per share at an enterprise valuation of $225 million (A$296 million).
  • The purchase price signified a 63.3% premium to Mainstream’s Friday closing price of A$1.225.
  • Mainstream is an investment administration, middle office, fund accounting, superannuation administration, share registry, and unit registry (transfer agency) services provider to fund managers and superannuation funds, family offices, and dealer groups. 
  • Mainstream had previously inked into a Scheme Implementation Deed with Vistra Group at a lower offer price.
  • Mainstream Group’s fund and superannuation services complemented SS&C’s extensive administration offerings in Australia and globally and established great revenue growth potential, according to SS&C Chairperson and CEO Bill Stone.
  • SS&C held $209.3 million in cash and equivalents as of Dec. 31, 2020.
  • Price action: SSNC shares traded higher by 1.97% at $73.86 on the last check Monday.
 

Related Articles (SSNC)

View Comments and Join the Discussion!

Posted-In: BriefsM&A News Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com