July 31, 2018 / 4:11 PM / in 14 days

SS&C to buy Eze Software for $1.45 billion

(Reuters) - Financial software maker SS&C Technologies Holdings Inc (SSNC.O) said on Tuesday it would buy Eze Software from TPG Capital for $1.45 billion in cash, to expand its offerings to buy-side investment firms.

SS&C had said in January it would buy DST Systems Inc in a $5.4 billion deal, to build out its financial software offerings that serve banks and the investment industry.

The company plans to fund the deal, which is expected to immediately add to its adjusted earnings per share, with a combination of cash and term-loan debt.

Boston-based Eze Software provides financial technology for front, middle and back offices. TPG bought Eze Castle Software and RealTick from ConvergEx Group in 2013, to form Eze Software.

The transaction is expected to close by the fourth quarter.

Reporting by Arjun Panchadar in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak Dasgupta

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