SSNC - SS&C to acquire Mainstream implying enterprise value of $225M

SS&C Technologies ([[SSNC]] +0.3%) entered into a conditional Scheme Implementation Deed with Mainstream wherein the former will acquire 100% of the shares and outstanding equity rights in the latter at A$2.00 per security pursuant to a scheme of arrangement.Mainstream is a provider of investment administration, middle office, fund accounting, superannuation administration, share registry and unit registry (transfer agency) services to leading fund managers and superannuation funds, family offices and dealer groups.Terms of the proposed acquisition imply an enterprise value for Mainstream of ~A$296M ($225M) which includes transaction costs and net debt.Transaction expected to close in 3Q21.

For further details see:

SS&C to acquire Mainstream implying enterprise value of $225M