Carlyle-backed SS&C acquires TheNextRound

The deal will dramatically increase the Connecticut-based financial software and services provider’s private equity client base.

Financial software and services company SS&C Technologies has acquired TheNextRound, a software provider for the private equity and alternative investment communities. Terms of the transaction were not disclosed.

TheNextRound’s flagship product, TNR Solution, is an enterprise solution that supports a range of front to back office capabilities, including partnership accounting, investor relations, CRM, fundraising, deal, fund and portfolio management, GL and reporting for fund managers, investors, and fund investors.

“Over time we will add products and services that we have, and we’ll be able to take certain of the functionalities that TNR has and bring out a more comprehensive solution for a wide range of asset classes and vehicles,” said Bill Stone, SS&C’s chairman and chief executive Officer.

SS&C employs 1100 people in offices throughout North America, Europe, Asia and Australia. The company serves 50-some private equity clients. TheNextRound employs 45 professionals, and has more than 225 clients in 25 countries. TheNextRound is privately held.

The Carlyle Group acquired a majority stake in the company in 2005 in a $941 million take-private, partnering with management to delist the company from the NASDAQ stock exchange. Since the acquisition, Carlyle has guided SS&C through the 2007 acquisition of Northport, a New Jersey-based fund administration software developer, and the July acquisition of Micro Design Services, a New Jersey-based mobile computing and messaging provider. SS&C purchased Micro Design for $17 million in cash, as well as the assumption of undisclosed liabilities.