SS&C Technologies Acquires Financial Services CRM Software Company
SS&C Technologies Holdings, Inc. has acquired the sell-side Tier1 CRM business and related assets of Tier1 Financial Solutions in an all-cash transaction. Tier1 CRM is a leading provider of sell-side CRM solutions targeting capital markets and investment banking. Other financial terms of the agreement were not disclosed.
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SS&C acquires Tier1 CRM
SS&C Technologies, founded in 1986, is based in Windsor, Connecticut. The company has 18,934 employees listed on LinkedIn. SS&C’s areas of expertise include portfolio management, trading, private equity, fund of funds and hedge fund administration, institutional outsourcing, financial services software, ASP, BPO and licenses.
Tier1 Financial Solutions, founded in 2008, is based in Toronto, Ontario, Canada. The company has 208 employees listed on LinkedIn, of which more than 60 employees are with Tier1 CRM and will join SS&C, according to the company. Tier1 areas of expertise include CRM, Capital Markets, FinTech, Financial Technology, Investment Banking, Investment Management, Corporate Banking, Cloud Computing, Software, technology, relationship management, customer relationship management and compliance.
The acquisition will expand SS&C’s CRM capabilities, targeting capital markets and investment banking and adding more than 30 enterprise customers across the United States, Canada, and the UK, the companies said. Tier1 CRM employees in Canada and USA will join SS&C’s Salentica business unit, which is dedicated to CRM for financial services and will report to Derek LandiVice President and General Manager, SS&C Salentica.
SS&C Acquires Tier1 CRM: An Important Addition
Landi commented on the acquisition:
“The sales-side Tier 1 CRM business will be an important addition to our CRM solutions business. We will add talented employees and respected customers to our roster with like-minded product architecture and deep customer expertise. The combination of Tier1 business and Salentica will allow us to better serve our customers with CRM solutions specifically designed for their market. »
Doug ChristensenCOO of Tier1 CRM, added:
“We are delighted to join the SS&C family. Joining forces with SS&C allows the business to scale as the customer base grows and provides complementary solutions to many of SS&C’s existing products and businesses.