Thomson Reuters Corp has agreed to sell its Portia investment operations unit for $170 million to financial software company SS&C Technologies Holdings Inc as part of an ongoing divestment plan.The company announced its intention to sell Portia in April 2011. It said on Feb. 9 that it was also looking to divest its Property Tax Services, Law School Publishing business and Financial & Risk eXimius business, which is part of the Retail Wealth Management organization. The three businesses combined had revenue of about $155 million in 2011.It has also sought to sell its healthcare services unit, but has said it will resume that process when market conditions improve.SS&C said it expects its purchase of Portia to close in the second quarter of 2012.
SS&C Technologies Holdings, Inc. (SS&C Holdings) is a holding company. Shares of SSNC traded higher by 1.11% or $0.23/share to $20.90. 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 18828.
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