While SS&C Technologies is getting another asset with 40%-plus margins at a "reasonable" price, this will be the fourth parent company for Intralinks in a two year stretch, JPMorgan analyst Jackson Ader tells investors in a research note. Synchronoss (SNCR) purchased Intralinks in January of 2017 for $783M, Siris Capital Group then bought it for $1B in November of 2017 and now SS&C has agreed to buy the company for $1.5B, nearly double what Synchronoss paid less than two years ago and a 50% premium over what Siris paid late last year, Ader writes. The analyst says that while he still likes shares of SS&C, he's "more negative than positive as it pertains to this deal." Ader has an Overweight rating on the stock with a $70 price target.