SS&C Technologies Holdings, Inc. has acquired the sell-side Tier1 CRM business and related assets from Tier1 Financial Solutions in an all-cash transaction. Tier1 CRM is a leading provider of sell-side CRM solutions targeting capital markets and investment banks. Further financial terms of the deal 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 license.
Tier1 Financial Solutions, founded in 2008, is based in Toronto, Ontario, Canada. The company has 208 employees listed on LinkedIn, of which 60+ employees are with Tier1 CRM and will join SS&C, according to the company. Tier1’s areas of expertise include CRM, capital markets, fintech, financial technology, investment banking, investment management, corporate banking, cloud computing, software, technology, relationship management, client relationship management and compliance.
The acquisition will expand SS&C’s CRM capabilities, targeting capital markets and investment banks and adding 30+ enterprise clients across the U.S., Canada, and the U.K., the companies said. Tier1 CRM’s employees in Canada and the U.S. will join SS&C’s Salentica business unit, which is dedicated to CRM for financial services and report to Derek Landi, vice president and general manager, SS&C Salentica.
SS&C Acquires Tier1 CRM: A Strong Addition
Landi commented on the acquisition:
“The sell-side Tier1 CRM business will be a strong addition to our CRM solutions business. We will add talented employees and respected clients to our roster with like-minded product architecture and deep client expertise. The combination of the Tier1 business and Salentica will allow us to better serve clients with CRM solutions purpose-built for their market.”
Doug Christensen, COO 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.”