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Wednesday, February 29, 2012

SS&C to purchase investment platform from Thomson Reuters, (NASDAQ: SSNC)

SS&C Technologies Holdings Inc , a provider of software for financial firms, said it agreed to purchase Thomson Reuters Corp's investment operations platform Portia for $170 million. The transaction is expected to close in the second quarter of 2012, SS&C said in a statement.Thomson Reuters Portia helps investment managers track and manage their portfolios.

SS&C Technologies Holdings, Inc. (SS&C Holdings) is a holding company. Shares of SSNC remained unchanged at $20.67. In the past year, the shares have traded as low as $13.28 and as high as $21.49. On average, 172276 shares of SSNC exchange hands on a given day and today's volume is recorded at 0.