SS&C Technologies, a financial technologies company, has announced they will acquire Innovest Systems, an accounting and reporting service provider, for $120M.
"In today's challenging market environment, it is our mission to deliver must-have technology and service to our clients to help them reach their target markets. The addition of Innovest's innovative solutions and seasoned team will allow us to simplify wealth managers' operations with a one-stop-shop for wealth and trust accounting and reporting”
Bill Stone, Chairman and CEO SS&C
Innovest’s cloud-based reporting software InnoTrust which helps consumers account for assets held in various investment vehicles is the technology central to the acquisition.