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US tech firm to buy Globacom unit

US tech firm to buy Globacom unit

SS&C Technologies Holdings, a US tech company, says it is acquiring the Investrack business unit of Globacom Technologies, a tech company based in the UAE.

The two tech firms say they have entered into a definitive agreement under which SS&C will acquire the Investrack business, through the deal transaction, subject to customary closing conditions is expected to close in September 2019.

Investrack will operate as a business unit under SS&C Advent adding 29 employees based in Dubai and Pune, India as well as 30 clients in 14 countries, the companies said in a statement. 

The leadership team, including CEO Vijay Kartha will report to Mats Berggren, head of International business development of SS&C Advent.

“Our acquisition of Investrack supports our commitment to providing innovative products and services to elevate the client experience. Investrack helps our clients deepen their own client relationships, differentiate in a competitive market and further extends our global strategy, particularly in the Middle East,” Robert Roley, Senior Vice President and General Manager of SS&C Advent says. “Adding Investrack strengthens our offering for digital investor engagement and adds best-in-class technology, people and expertise.”

Through SS&C’s long-term partnership with Globacom, Investrack’s tools and services are already integrated with SS&C’s solutions, including AP, Tradex, Geneva and Moxy, and seamlessly connects asset managers and end-investors via a modern user experience. Investrack offers a 360 degree client engagement solution designed for private bank, wealth and investment management firms.

“We believe SS&C’s global reach will help realize the full potential of Investrack. The Investrack team is excited to work with SS&C to realize this objective,” Vijay Kartha adds.

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