DST Systems
DST Systems, Inc. is an American company that was acquired by SS&C Technologies in 2018. The company provided advisory, technology and operations outsourcing services to the financial services and healthcare industries. It was founded in February 1969 as Data·Sys·Tance, a subsidiary of Kansas City Southern Industries (KCSI) and is headquartered in Kansas City, Missouri, United States. , DST employed 13,420 people worldwide. DST provides business services in two main areas: DST has operations in Australia, Canada, China, Germany, India, Ireland, Thailand, United Kingdom and United States. Financial Services. DST provides financial service assistance through the following lines of business : Healthcare. DST Healthcare supports the following areas: History. DST was founded in the 1960s as a subsidiary of Kansas City Southern Industries (KCSI) to track movements on their railroad. KCSI also owned a mutual fund management company and leveraged technology to automate the administration of mutual funds, creating the industry's first online shareholder accounting system. To handle the growing processing and data storage demands seen in the 1980s, DST built several data centers, including one called Winchester that was built in 1985, which was one of the most sophisticated such centers in the United States at the time. In  the 1990s, DST was spun off as an independent entity from KCSI and began trading on the NYSE in 1995 as . In 1990, DST first released the Automated Work Distributor (AWD), a business process management product that has been widely adopted by banks, insurance companies, healthcare companies, brokerages and mutual fund companies looking for a paperless environment. In 1989, DST acquired a 50% interest in Argus Health Systems, at the time focused on pharmacy benefit administration. On March 31, 2009, DST acquired the remaining equity interest of Argus Health. In 2005 and 2006, DST acquired CSC's Health Plan Solutions  group and Amisys Synertech, Inc, allowing DST to provide claims administration, software applications and business process outsourcing (BPO) assistance. This became the newly established DST Health Solutions, a sister company to Argus Health. In 1991, DST created a wholly owned subsidiary eventually known as DST Customer Communications (formerly DST Output) to handle the design, printing, sorting, mailing and electronic presentment of the voluminous output of its product management systems. In July 2016, DST sold their North American Customer Communications business to Broadridge Financial Solutions. On September 12, 2017, DST announced a rebrand of Argus Health to DST Pharmacy Solutions to  better reflect the role of pharmacy in healthcare and expanded services. On January 11, 2018, SS&C Technologies Holdings, Inc. announced that it would acquire all outstanding DST stock at a share price of $84. On April 16, 2018, SS&C Technologies completed its acquisition of DST Systems. Expansion, partnerships and acquisitions. Since 1983, DST has offered many services through substantial joint venture enterprises with State Street Corporation, including significant international operations. In 1992, DST formed International Financial Data Systems (IFDS), UK, as a joint venture with State Street Corporation. The UK venture later expanded to locations in Germany and Ireland  to provide financial service recordkeeping services for its clients. In 1993, DST acquired Canadian financial technology company Corfax Benefit Systems, which developed the mutual fund accounting software Corfax, and provided pension administration processing as a service. The acquired company was renamed to DST Canada. In 2001, IFDS combined with International Financial Data Systems (Canada) Ltd. In 2008, Bluedoor Technologies, a provider of software solutions for participant accounting for the superannuation markets in Australia, was acquired. DST Retirement Solutions was formally established that year. In 2011, UK-based Lateral Group was acquired to create what is now called DST Applied Analytics . That same year, DST Brokerage Solutions and DST Market Services were established. Also acquired in 2011 was ALPS Holdings, Inc. (ALPS), a Denver-based provider of servicing and asset management strategies to the asset management industry. ALPS began in 1991 and became the first service providers of exchange-traded funds (ETFs) beginning in 1995. In 2007, ALPS expanded their capabilities to asset management, specializing in satellite and alternative investment strategies. DST acquired New York-based Kasina LLC in January 2015. Kasina is a strategic advisory firm to the asset management industry and provides business analytics, consulting and research to asset  managers. DST Kasina is part of DST Distribution Services. In July 2015, DST acquired Wealth Management Systems Inc. (WMSI), a leading provider of technology-based rollover services in the retirement industry offering wealth management products. WMSI is now part of DST Retirement Solutions. On February 24, 2016, DST completed an acquisition of alternative fund service provider Kaufman Rossin Fund Services (KRFS). KRFS is a full-service provider of specialized administration services to the global financial community and has expertise in the hedge fund business. KRFS is part of the asset servicing division of ALPS. March 27, 2017, DST to acquire  remaining interest in Joint Ventures, Boston Financial Data Services, Inc. (BFDS) and International Financial Data Services Limited ("IFDS U.K."), from State Street Corporation. May 7, 2017, DST Systems reported a share repurchase program worth $300 million. January 11, 2018, SS&C acquired DST Systems for $84 per share in cash for an enterprise value of $5.4 billion, including assumption of debt.