Carlyle-backed SS&C buys piece of Geller & Company

Carlyle-backed SS&C has purchased Geller & Company’s investment partnership fund administration business, according to a source close to the deal. Terms of the transaction were not disclosed.  

The Geller deal comes amid a dispute between Geller and software provider TheNextRound (TNR), which SS&C acquired in November. After SS&C bought TNR, Geller filed suit against TNR and SS&C, claiming the company was in breach of a licensing agreement signed six years ago, giving Geller the “perpetual and exclusive” right to use TNR for its private equity fund administration business. Geller said in the suit it had paid TNR $4 million for the privilege over six years. Geller sought permanent injunctive relief as well as damages and fees.   

 

SS&C did not comment on the deal or the impact the deal would have on the lawsuit. Geller did not return requests for comment by press time.

The Carlyle Group bought a majority stake in SS&C 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.