* Sells Portia unit to SS&C Technologies Holdings
* Company announced Portia was for sale in April 2011
* Part of ongoing divestment plan
Feb 29 (Reuters) - Thomson Reuters Corp has agreed to sell its Portia investment operations unit for $170 million to financial software company SS&C Technologies Holdings Inc as part of an ongoing divestment plan.
The company announced its intention to sell Portia in April 2011. It said on Feb. 9 that it was also looking to divest its Property Tax Services, Law School Publishing business and Financial & Risk eXimius business, which is part of the Retail Wealth Management organization. The three businesses combined had revenue of about $155 million in 2011.
It has also sought to sell its healthcare services unit, but has said it will resume that process when market conditions improve.
SS&C said it expects its purchase of Portia to close in the second quarter of 2012.
Portia provides accounting software to investment managers.
SS&C said that Portia President Christy Bremner will continue to run the business, which has more than 140 employees in Boston, Bangalore, London, Hong Kong, Singapore, Dubai, Tokyo and Bangkok.