CPE News (8.23.2022) – SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) has acquired the sell-side Tier1 CRM business and related assets from Tier1 Financial Solutions in an all-cash transaction. Financial terms were not disclosed.
Tier1 CRM is a leading provider of sell-side CRM solutions targeting capital markets and investment banks. Tier1 CRM’s 60+ employees in Canada and the U.S. will join SS&C, reporting to Derek Landi, Vice President and General Manager, SS&C Salentica.
Backed by Wavecrest Growth Partners, MassMutual Ventures and Salesforce Ventures, Toronto based Tier1 Financial Solutions is a leading provider of client relationship management, KYC & AML compliance and fraud prevention solutions.
photo credit: SS&C Technologies
News Release
SS&C Acquires Tier1’s CRM Business
The acquisition will complement and extend SS&C’s Customer Relationship Management (CRM) offerings
WINDSOR, CT, August 23, 2022 (PR NEWSWIRE) – SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced it 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.
Based in Toronto, Canada, Tier1 CRM supplies CRM capabilities to sell-side financial services firms, including research, trading, and sales teams within capital markets groups, and provides a deal management CRM experience to investment banks. The acquisition will expand SS&C’s CRM capabilities, targeting capital markets and investment banks, adding 30+ enterprise clients across the U.S., Canada, and the U.K. Tier1 CRM’s 60+ employees in Canada and the U.S. will join SS&C, reporting to Derek Landi, Vice President and General Manager, SS&C Salentica.
“The sell-side Tier1 CRM business will be a strong addition to our CRM solutions business,” said Landi. “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.”
“We are delighted to join the SS&C family,” said Doug Christensen, Chief Operating Officer of Tier1 CRM. “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.”
About Tier1 CRM
Tier1 CRM is a leading CRM solution, empowering clients to optimize customer engagement and increase operational efficiency. Tier1 delivers workflow-optimized experiences, prompted insights, and a centralized view of client interactions that drive revenue-generating engagements. Serving the unique needs of Capital Markets, Investment Banking, Investment Management, and corporate professionals, Tier1 advances client relationships and workflows with data-driven insights across desktop and mobile devices, empowering compliance, collaboration, transparency, and communication. Prior to the acquisition, Tier1 CRM was part of Tier1 Financial Solutions.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.
Contact(s):
Patrick Pedonti
Chief Financial Officer
Tel: +1 860-298-4738
Justine Stone
Investor Relations
Tel: +1 212-367-4705
E-mail: InvestorRelations@sscinc.com