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: MiFID II: How to optimise data management for transaction reporting

Don’t miss this opportunity to view the recording of this recently held webinar. As MiFID II hits the six-month mark, how well is your organisation handling transaction reporting? Is it ready to meet the LEI mandate that will take effect on July 3 and require all parties to transactions to have LEIs? And how is...

BLOG

A-Team Group Names Winners of Data Management Insight Awards 2020

A-Team Group has announced the winners of its prestigious Data Management Insight Awards 2020. The annual awards, now in their eighth year, recognise leading providers of data management solutions, services and consultancy to capital markets participants. The award winners were announced online across categories ranging from best sell-side and buy-side data management platforms to best...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Best Practice Client Onboarding

Client onboarding is central to the success of banks, yet it continues to present challenges and the benefits of getting it right are difficult to achieve. The challenges arise from siloed systems, manual processes and poor entity data quality. The potential benefits of successful implementation include excellent client experience, improved client acquisition and loyalty, new business opportunities, reductions in costs, competitive advantage, and confidence in compliance.