Connecticut-headquartered SS&C Technologies Holdings has agreed to acquire UK B2B investment platform Hubwise for an undisclosed sum.
Hubwise serves advisers and discretionary wealth managers and offers self-directed digital D2C propositions.
Under the terms of the agreement, SS&C will purchase Hubwise in an all-cash transaction.
The acquisition adds 58 employees serving 51 customers in the UK, and is expected to close in 2022, subject to customary closing conditions, including regulatory approvals.
SS&C said that the deal will expand its scale and investment in digital services to target the UK-advised retail market.
Bill Stone, chairman and chief executive of SS&C, said: “We are delighted to welcome the Hubwise team and customers to SS&C. This acquisition brings significant value to our customers engaged in delivering first-class investment and advisory services to their investors.
“Hubwise is a natural step for our successful existing partnership. In addition, the combination of SS&C and Hubwise will create a unique solution for the adviser and distributor community to better address increasing competitive and regulatory pressures.”
Angus Macdonald, chief executive at Hubwise, added: “We are thrilled to combine forces with SS&C because we have so many complementary strengths. We look forward to becoming a strategic component of the firm’s wealth and adviser business in the region. Further, the acquisition opens an exciting chapter for our employees and customers.”
SS&C Technologies Holdings sells software and software as a service to the financial services industry. The company has offices in the Americas, Europe, Asia, Africa and Australia.