SS&C Technologies, a provider of financial services software, has completed the purchase of Advent Software, a provider of software and services for investment management industry.
As per the terms of the agreement, Advent stockholders will receive per share consideration of $44.25. The deal consideration is approximately $2.63 billion including the assumption of Advent’s existing debt.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Advent has over 4,300 customers including asset managers, hedge funds, fund administrators, prime brokers, family offices and wealth management advisory firms, located across more than 50 countries worldwide.
Advent, which is headquartered in San Francisco, California, has more than 1,200 employees globally. It generated revenues of $397m for the 12 months ended 31 December 2014.
SS&C chairman and CEO Bill Stone said: "SS&C has a long history of successful integrations, and we are confident that Advent’s products, services, and dedicated employees will enhance SS&C’s overall offering, improving the customer experience for over 10,000 financial services organizations worldwide.
"In an industry where big banks dominate the market, SS&C, together with Advent, is the independent, technology-driven alternative, able to provide nimble services and complete transparency throughout the front, middle, and back office operations."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
