The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

SS&C Technologies Gets Clearance to Acquire Advent Software

SS&C Technologies has been given the go-ahead for its acquisition of Advent Software by the US Department of Justice. The companies reached a definitive agreement on the $2.7 billion acquisition back in February and now expect the transaction to close in the third quarter of this year.

The acquisition of Advent is one of 40 acquisitions made by SS&C since it was founded in 1986. It will add 4,300 global investment management customers to SS&C’s 7,000 financial services customers, along with Advent’s product set of portfolio management and accounting systems. It will also add 1,200 employees worldwide and the Advent management team led by CEO Pete Hess. Based on Advent revenues of $397 million in the year to December 31, 2014, combined revenues are expected to reach about $1.2 billion.

Commenting on the acquisition in February, Bill Stone, chairman and CEO of SS&C, said: “SS&C is acquiring a pre-eminent business in the financial technology industry and this is an acceleration in the progression to cloud technology. Advent Software combined with SS&C’s complementary offerings in software-as-a-service, middle office services, regulatory solutions, mobile applications and FIX is unmatched. We intend to continue our combined strengths in innovation, client focus and employee opportunity.”

Related content

WEBINAR

Recorded Webinar: Tackling data management pain points in the run up to MiFID II

Don’t miss this opportunity to view the recording of this recently held webinar. With the 3rd January 2018 compliance deadline for Markets in Financial Instruments Directive II (MiFID II) just weeks away, what data management pain points is your organisation trying to heal? Could they jeopardise your compliance with the regulation? The webinar will discuss...

BLOG

GoldenSource Ushers Reference and Pricing Data into the Front Office with Quant Workbench

Extracting value from data is a priority for financial institutions as the business looks to increase efficiency, reduce costs, identify new opportunities and gain competitive advantage. Some source in-house tools to improve the quality and accessibility of internal and external data, others look to third-parties for solutions. A new tool from GoldenSource, Quant Workbench, brings...

EVENT

Data Management Summit London

The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

Complex Event Processing

Over the past couple of years, Complex Event Processing has emerged as a hot technology for the financial markets, and its flexibility has been leveraged in applications as diverse as market data cleansing, to algorithmic trading, to compliance monitoring, to risk management. CEP is a solution to many problems, which is one reason why the...