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DST Systems, Inc. is an American company that was acquired by SS&C Technologies in 2018. The company provided advisory, technology and operations outsourcing services to the financial services and healthcare industries. It was founded in February 1969 as Data·Sys·Tance, a subsidiary of Kansas City Southern Industries (KCSI) and is headquartered in Kansas City, Missouri, United States. As of 2016[update], DST employed 13,420 people worldwide.
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Business Services |
| Founded | Incorporated in 1969 |
| Headquarters | Kansas City, Missouri, United States |
Key people | Stephen C. Hooley, Chairman/CEO/President[1] |
| Products | Banking, Insurance, Wealth management, Healthcare |
| Revenue | $ 2.825 billion U.S. dollars (2015)[2] |
Number of employees | 13,420 (2016) |
| Parent | SS&C Technologies |
| Website | dstsystems |
History
editIn 2005 and 2006, DST acquired CSC's Health Plan Solutions group and Amisys Synertech, Inc.[3]
On January 11, 2018, SS&C Technologies Holdings, Inc. announced that it would acquire all outstanding DST stock at a share price of $84.[4]
Expansion, partnerships and acquisitions
editOn February 24, 2016, DST completed an acquisition of alternative fund service provider Kaufman Rossin Fund Services (KRFS).[5]
March 27, 2017, DST to acquire remaining interest in Joint Ventures, Boston Financial Data Services, Inc. (BFDS) and International Financial Data Services Limited ("IFDS U.K."), from State Street Corporation.[6]
May 7, 2017, DST Systems reported a share repurchase program worth $300 million.[7]
January 11, 2018, SS&C acquired DST Systems for $84 per share in cash for an enterprise value of $5.4 billion, including assumption of debt.
External links
edit- Official website
- SS&C Technologies Holdings, Inc. (NASDAQ:SSNC, Official website)
References
edit- ^ "Officers and Directors". Reuters. 2016-01-04. Archived from the original on 2010-12-17.
- ^ "2015 10K Annual Report". 2016-01-04.
- ^ "Acquisition of DST Health Solutions and Amisys Synertech, Inc". 2016-01-04. Archived from the original on January 5, 2017.
- ^ "SS&C Technologies Holdings to acquire DST Systems". Reuters. 2018-01-11.
- ^ "DST Systems Inc's announces completion of Kaufman Rossin Fund Services acquisition". Reuters. 2017-05-09. Archived from the original on 2017-12-08. Retrieved 2017-06-30.
- ^ "BRIEF-DST to acquire remaining interest in Joint Ventures, BFDS and IFDS U.K., from State Street". Reuters. 2017-03-27.
- ^ "DST Systems reports new $300 mln share repurchase program". Reuters. 2016-05-07. Archived from the original on 2017-12-08. Retrieved 2017-06-30.