SS&C Technologies to acquire B2B investment platform Hubwise

Connecticut-based SS&C Technologies has agreed to acquire Hubwise Holdings, a UK-based B2B investment platform that caters to advisers, self-directed digital D2C propositions, and discretionary wealth managers.

Hubwise, which is regulated by the UK Financial Conduct Authority, is a member firm of the London Stock Exchange.

As per the terms of the agreement, SS&C Technologies will acquire Hubwise in an all-cash transaction. The consideration amount has not been disclosed.

Hubwise has a workforce of 58 people and it has been serving 51 customers in the UK.

Angus Macdonald — CEO of Hubwise said: “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 to acquire B2B investment platform Hubwise. Photo courtesy of S K from Pixabay.

The acquisition will allow SS&C Technologies to utilize its scale and investment in digital services to serve customers in the UK-advised retailer market. This complements its solutions for asset managers as well as discretionary wealth managers.

By acquiring Hubwise, SS&C Technologies is expected to boost its capabilities in aiding its clients to develop highly efficient and automated multi-currency, multi-asset and multi-wrapper plans.

Bill Stone — Chairman and CEO of SS&C Technologies 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.

“Adding 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.”

The deal, which is subject to regulatory approvals and other customary closing conditions, is likely to close next year.