Thomson Sells DBC to SS&C Technologies

Thomson Media sold the assets and business of its DBC unit to SS&C Technologies Inc. Friday for $4.5 million in cash and the assumption of certain liabilities.

DBC, founded in 1980, is the leading provider of financial software for fixed-income analysis in municipal finance in the U.S. Thomson Media is a part of The Thomson Corp., which also owns The Bond Buyer.

Richard Shalowitz, executive vice president of DBC, will join SS&C as senior vice president and general manager of SS&C's New York office, according to the firms. It is also expected that the entire DBC staff of 20 will be joining SS&C.

Bill Stone, SS&C's president, chief executive officer, and chairman of the board said in a statement that the Windsor, Conn.-based company's "acquisition strategy continues to be to find complementary products that can both add value to our existing clients and expand our reach into new markets like municipal finance."

"DBC's applications are used by underwriters, investment banks, municipal issuers, and financial advisors for structuring new issues, securitizations, strategic planning, and asset/liability management. We expect this acquisition to be accretive to earnings in 2003," he continued.

SS&C provides investment and financial management software and related services for a variety of investment markets including hedge funds and family offices, institutional asset managers, insurance entities and pension funds, real estate property managers, financial institutions, and municipal finance.