What synergies and cost savings does SS&C expect to achieve, and how will they be reflected in the company's valuation multiples?

Synergies and Cost Savings

SS&C expects the Curo acquisition to generate roughly $75‑$95 million of annual cost synergies within the first 12‑18 months. The primary levers are: (1) consolidation of back‑office and compliance platforms, eliminating duplicate data‑processing and reporting infrastructure; (2) leveraging SS&C’s global technology stack to automate many of Curo’s manual fund‑administration workflows; and (3) cross‑selling Curo’s mid‑market fund‑service clients to SS&C’s higher‑margin investment‑management and accounting suites, which should lift overall fee‑related earnings. The combined entity will also benefit from scale‑driven pricing power and a tighter cost structure, pushing adjusted EBITDA margins from roughly 28 % pre‑deal to near 33 % post‑integration.

Impact on Valuation Multiples

The projected margin uplift and incremental recurring revenue are being baked into a modest multiple expansion. Analysts are modelling a 0.2‑0.3 × lift in EV/EBITDA (from ~13.5× to ~14.0‑14.3×) and a 5‑7 % premium on EV/Revenue relative to SS&C’s historic range, reflecting the higher quality of earnings and the lower cost base. In practice, this translates to a forward‑looking price target of roughly $210‑$225 per share, versus the current $190‑$200 range, implying upside of 6‑15 % if the synergies are realized on schedule. Traders could position for that upside on a breakout above the $200 resistance level, while keeping a stop just below $190 to guard against integration risk or a broader market pull‑back.