SS&C Acquires Reuters PORTIA

Windsor-based SS&C (SSNC) recently announced that it has reached an agreement to acquire Thomson Reuters Portia business for $170 million.

PORTIA provides a platform for investment managers to manage portfolios.

"Joining SS&C is a great opportunity for the long-term success of our business," said PORTIA President Christy Bremner. "The commercial synergies of the deal should drive growth and investment for our business, and deliver significant incremental value to our clients."

SS&C CEO Bill Stone added that the deal expands his company's offerings in the portfolio management software industry.

Portia operates in over 40 countries, managing assets that total $10 trillion.