DST Systems, a Missouri-based technology provider for asset management, brokerage, and retirement firms, has secured the go-ahead from its shareholders for its merger with SS&C.
The all-cash deal, valued at about $5.4bn, was first announced in January this year.
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SS&C, which aims to expand its presence into the US retirement and wealth management markets through the deal, will pay $84 a share including assumption of debt.
While announcing the acquisition, DST Systems said that it expects $150m of annual cost savings by 2020 through the deal.
The combined entity will have approximately $3.9bn in revenue and 13,000 clients.
The transaction has already been approved by all antitrust or competition authorities. It is expected to be wrapped up in April or May 2018, subject to approvals by financial regulators.
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By GlobalDataDST generated $2.3bn for the year ended 30 September 2017, and employs over 14,400 staff across the globe.
