WINDSOR, Conn., May 25, 2021 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that it
has amended the Scheme Implementation Deed with Mainstream Group
Holdings Limited (ASX: MAI, "Mainstream") to provide for an
acquisition by SS&C of 100% of the shares and outstanding
equity rights in Mainstream for A$2.66 per security pursuant to a scheme of
arrangement. In the absence of a superior proposal, and
subject to the independent expert concluding that the revised
scheme is in the best interests of Mainstream shareholders, being
customary carve-outs, the board of directors of Mainstream intends
to support the revised scheme of arrangement on that basis.
Terms of the proposed acquisition imply an enterprise value for
Mainstream of approximately A$392
million or approximately US$306
million (including transaction costs and net debt). The
purchase will be subject to customary conditions, including
approval by Mainstream shareholders, the relevant Australian court
and certain regulatory approvals, and is expected to close in the
third quarter of 2021.
Mainstream is a provider of investment administration, middle
office, fund accounting, superannuation administration, share
registry and unit registry (transfer agency) services to leading
fund managers and superannuation funds, family offices and dealer
groups. The company serves clients globally through its offices in
Australia, Hong Kong, Singapore, Ireland, Malta, Isle of Man, the Cayman Islands and the U.S.
Mainstream is being advised by Miles Advisory Partners as
financial adviser and Maddocks as legal adviser.
SS&C is being advised by Citi as financial adviser and
Gilbert + Tobin as legal adviser.
About Mainstream Group Holdings
Mainstream Group Holdings Limited (ASX: MAI) provides fund and
superannuation administration services underpinned by investment in
people, processes and technology. As at March 2021, Mainstream provides administration
services to 1,364 funds and more than 176,000 investors with funds
under administration of AUD $272
billion. Mainstream employs 330 people, with operations in
Australia, Singapore, Hong
Kong, the United States,
the Isle of Man, Malta,
Ireland and the Cayman Islands. For more information, please
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 18,000
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.
Additional information about SS&C (Nasdaq:SSNC) is available
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