WINDSOR, Conn., June 9, 2020 /PRNewswire/ -- SS&C Technologies Holdings, Inc., and its subsidiary SS&C Advent strongly reject the meritless allegations in the Complaint filed this morning by Arcesium LLC.

SS&C Technologies (PRNewsfoto/SS&C)

The fintech industry, and especially the sale of technology solutions to financial firms, is extraordinarily competitive and includes some of the world's largest global companies. The notion that SS&C dominates or has monopolized this industry is preposterous. Equally meritless are Arcesium's allegations that its access to SS&C's products has been improperly discontinued. SS&C was entirely within its rights to choose not to renew the parties' 2015 reseller arrangement and, thereafter, it was Arcesium, not SS&C, who breached the post-termination provisions of that agreement by improperly marketing SS&C software technology to which it no longer had a license.

"Arcesium's case boils down to unfounded complaints by a disappointed licensee who would prefer to continue to use SS&C's valuable intellectual property on terms of its own choosing," said Bill Stone, CEO of SS&C. "SS&C has many licensees with whom it enjoys a mutually beneficial relationship, but we are not required to license our software on unfavorable commercial terms. SS&C was entirely within its rights to not renew the relationship with Arcesium when it expired by its terms earlier this year. SS&C has done nothing wrong and looks forward to all of the relevant facts coming out in the court proceedings, including Arcesium's blatant misuse of SS&C's technology after its license expired."

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. Follow SS&C on Twitter, Linkedin and Facebook.

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SOURCE SS&C