8-K 12.01.2014
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 1, 2014
DST SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
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1-14036 | 43-1581814 |
(Commission File Number) | (I.R.S. Employer Identification No) |
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333 West 11th Street, Kansas City, Missouri | 64105 |
(Address of principal executive offices) | (Zip Code) |
(816) 435-1000
Registrant’s telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events.
On December 1, 2014, DST Systems, Inc. ("DST") announced that effective November 30, 2014, DST completed the sale of its wholly-owned subsidiary, DST Global Solutions Ltd. (“Global Solutions”) to SS&C Technologies Holdings, Inc. for cash consideration of $95 million, subject to customary working capital closing adjustments. Global Solutions provides investment management software solutions, including the HiPortfolio and Anova platforms. Revenues of the Global Solutions businesses sold were approximately $70 million during the year ended December 31, 2013 and approximately $50 million for the nine-months ended September 30, 2014. DST estimates that the sale of Global Solutions will reduce diluted earnings per share by approximately $0.16 to $0.20 in 2015.
The information and comments above may include forward-looking statements respecting DST and its businesses. Such information and comments are based on DST’s views as of today, and actual actions or results may differ. Future actions or results may be affected by a number of factors, including those set forth in DST’s latest periodic financial report (Form 10-K or 10-Q) filed with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking comment. The Company will not update any forward-looking statements in this Form 8-K to reflect future events.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 1st day of December, 2014.
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| DST Systems, Inc. |
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| By: /s/ Gregg Wm. Givens |
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| Name: Gregg Wm. Givens |
| Title: Senior Vice President, Chief Financial |
| Officer and Treasurer |