SSNC - SS&C Technologies acquires MineralWare for $18M in cash

SS&C Technologies (NASDAQ:SSNC) said Monday it acquired 5 M's Minerals Management, doing business as MineralWare, for $18M in cash. MineralWare's cloud-based asset management platform focuses on managing minerals, royalties and non-operated working interests. The deal extends SSNC's offerings into the energy market and will help clients streamline operations across all asset classes and types. MineralWare will operate within SSNC's Innovest businesses. The deal will add 350 institutional and high-net-worth clients and $5.5M in annual recurring revenue to SSNC's platform, with a combined portfolio of 750K mineral assets.

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SS&C Technologies acquires MineralWare for $18M in cash