DST Systems

DST Systems, Inc.
Company typeSubsidiary
IndustryBusiness Services
FoundedIncorporated in 1969
HeadquartersKansas City, Missouri, United States
Key people
Stephen C. Hooley, Chairman/CEO/President[1]
ProductsBanking, Insurance, Wealth management, Healthcare
Revenue$ 2.825 billion U.S. dollars (2015)[2]
Number of employees
13,420 (2016)
ParentSS&C Technologies
Websitedstsystems.com

DST Systems, Inc. is an American company that was acquired by SS&C Technologies in 2018. The company provided advisory, technology and operations outsourcing services to the financial services and healthcare industries. It was founded in February 1969 as Data·Sys·Tance, a subsidiary of Kansas City Southern Industries (KCSI) and is headquartered in Kansas City, Missouri, United States. As of 2016, DST employed 13,420 people worldwide.

History

In 2005 and 2006, DST acquired CSC's Health Plan Solutions group and Amisys Synertech, Inc.[3]

On January 11, 2018, SS&C Technologies Holdings, Inc. announced that it would acquire all outstanding DST stock at a share price of $84.[4]

Expansion, partnerships and acquisitions

On February 24, 2016, DST completed an acquisition of alternative fund service provider Kaufman Rossin Fund Services (KRFS).[5]

March 27, 2017, DST to acquire remaining interest in Joint Ventures, Boston Financial Data Services, Inc. (BFDS) and International Financial Data Services Limited ("IFDS U.K."), from State Street Corporation.[6]

May 7, 2017, DST Systems reported a share repurchase program worth $300 million.[7]

January 11, 2018, SS&C acquired DST Systems for $84 per share in cash for an enterprise value of $5.4 billion, including assumption of debt.

References

  1. ^ "Officers and Directors". Reuters. 2016-01-04. Archived from the original on 2010-12-17.
  2. ^ "2015 10K Annual Report". 2016-01-04.
  3. ^ "Acquisition of DST Health Solutions and Amisys Synertech, Inc". 2016-01-04. Archived from the original on January 5, 2017.
  4. ^ "SS&C Technologies Holdings to acquire DST Systems". Reuters. 2018-01-11.
  5. ^ "DST Systems Inc's announces completion of Kaufman Rossin Fund Services acquisition". Reuters. 2017-05-09. Archived from the original on 2017-12-08. Retrieved 2017-06-30.
  6. ^ "BRIEF-DST to acquire remaining interest in Joint Ventures, BFDS and IFDS U.K., from State Street". Reuters. 2017-03-27.
  7. ^ "DST Systems reports new $300 mln share repurchase program". Reuters. 2016-05-07. Archived from the original on 2017-12-08. Retrieved 2017-06-30.