"Our recent acquisition of Digital Visions (DVI) opened the financial institution marketplace for us and Real-Time was a strategic partner of DVI. This acquisition gives us complete ownership of 'Lightning(tm)' a product under development by DVI and Real-Time for bond straight-through processing," said William C. Stone, SS&C's President, CEO, and Chairman of the Board.
"We see further synergies with our derivatives processing and loan management expertise. With the acquisition of Real-Time we have, once again, strengthened our recurring revenue model," Stone said. "After 29 years of selling increasingly sophisticated systems to large financial institutions it is exciting to join forces with a company with the systems, services, and financial strength of SS&C," said Tom Mulligan, President of Real-Time, who will join SS&C as a Senior Vice President.
"Real-Time has been a strategic vendor of the Federal Home Loan Bank of Chicago for more than ten years," said Charles Huston, Executive Vice President at FHLB Chicago. "Together FHLB Chicago and Real-Time have built many features and functions which help keep FHLB Chicago an innovative institution. The financial strength and breadth of products that SS&C now brings is appealing to us in terms of an expanded relationship."
"We use TradeDeskÂ® and RTS(tm) to process more than $1 trillion a month in principal," said Doug Jacobs, Executive Vice President and Treasurer at FleetBoston Financial Corporation. "Real-Time's products are mission-critical to our capital markets operation. We have been very pleased with the level of dedication and support we receive, and we are excited about what the future holds for Real-Time as a part of SS&C."
"All of us previously at Digital Visions were excited about working with Real-Time on the new Lightning product. Now as we are part of the bigger SS&C family, I believe we have a tremendous opportunity," said Michael E. Murphy, a Senior Vice President of SS&C and former CEO of Digital Visions, Inc.
Real-Time products include TradeDeskÂ®, a paperless front-office trading system; TradePathÂ®, a mid-office routing system and gateway for Bloomberg users; TD-Funding(tm), a comprehensive front-office paperless funding product; RTS(tm), a back-office books and records system; and Security Warehouse(tm), a platform for integrating security data from third-party vendors.