SS&C to Acquire Intralinks

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SS&C Technologies Holdings (Nasdaq: SSNC) announced on September 6 that it will acquire Intralinks Holdings Inc (Nasdaq: IL) from Siris Capital Group in a deal totaling $1 billion in cash and $500 million in SS&C stock. Frank Banker, Siris’ co-founder, is expected to join SS&C’s Board of Directors when the deal is closed. Bill Stone, CEO of SS&C Technologies, stated that the acquisition of Intralinks’ largest customers will put SS&C in the position to meet the needs of major banks and any other corporation that seeks to automate document-centric workflows. The deal is expected to close by the end of the year and is anticipated to be immediately accretive to SS&C’s adjusted earning per share. Wachtell, Lipton, Rosen & Katz served as legal adviser to the seller with Davis Polk & Wardwell LLP acting as legal adviser to SS&C. A total $1 billion in financing has been committed to SS&C Technologies by Citigroup, Credit Suisse, Deutsche Bank, and RBC Capital Markets for this transaction.

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