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SS&C Will Not Exercise Matching Right In Respect of Latest Offer to Acquire Mainstream Group

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WINDSOR, Conn., June 17, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that it has decided not to exercise its matching rights in connection with a competing offer made by a third party for an acquisition of 100% of the shares and outstanding equity rights in Mainstream Group Holdings Limited (ASX: MAI, "Mainstream") pursuant to a scheme of arrangement between SS&C and Mainstream.

"SS&C has decided to not exercise its matching right in respect of its bid for Mainstream," said Bill Stone, Chairman and CEO. "We began this journey after Mainstream's board had accepted a AUS$1.20 bid on March 12th. The most recent bid received by Mainstream was $2.80, a 133% increase to the original bid, and we congratulate the board of Mainstream for maximizing shareholder value." 

SS&C is being advised by Citi as financial adviser and Gilbert + Tobin as legal adviser.

About Mainstream Group Holdings
As of March 2021, the Group provides administration services to 1,364 funds and more than 176,000 investors with funds under administration in excess of AUD $272 billion.

Mainstream employs 330 people, with operations in Australia, Singapore, Hong Kong, the United States, the Isle of Man, Malta, Ireland and the Cayman Islands.

About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.

Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.

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About SSNC

ss&c provides the global financial services industry with a broad range of highly specialized software, software enabled-services and software as a service (saas) solutions for operational excellence. ss&c answers the outsourcing needs of the insurance, asset management, reit industries, alternative investments, and other financial service industries by tailoring solutions for their unique needs. these include account administration, asset valuation, compliance processing, data gathering, investment accounting and valuation, performance measurement, reconciliation, regulatory reporting and statement generation. founded in 1986 and listed on nasdaq (nasdaq: ssnc), ss&c has its headquarters in windsor, connecticut and offices around the world. some 10,000 financial services organizations, from the world’s largest institutions to local firms, manage and account for their investments using ss&c's products and services. these clients in the aggregate manage over $44 trillion in assets.