Advent Software

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www.advent.com
Advent Software
Type Public
Industry Portfolio management software
Founded 1983
Headquarters San Francisco, CA
Key people Stephanie DiMarco, Peter Hess, Katherine Calvert
Number of employees 1209
Related Certifications Certificate in Portfolio Management Technology Industry Overview

Advent Software, Inc. provides software products and services worldwide for automating and integrating data and work flows across the investment management organization, as well as between the investment management organization and external parties. It develops, markets, and sells software products, software-as-a-service hosting services, data interfaces, and related maintenance and services that automate, integrate, and support various mission-critical functions of investment management organizations. The company claims to have customers in 60 countries that manage about $18 trillion in assets. The company also offers professional services, such as consulting, project management, implementation and integration, custom report writing, training, and data conversion services. It serves asset managers, wealth managers, registered investment advisors, prime brokers, fund administrators, hedge funds, family offices, broker dealers, foundations, pension funds, endowments, and funds of funds.

Advent Software, Inc. was founded in 1983 and is headquartered in San Francisco, California. As of July 8, 2015, Advent Software, Inc. operates as a subsidiary of SS&C Technologies Holdings, Inc.


History

  • Advent Software was founded in 1983 by Steve Strand and Stephanie DiMarco.
  • In 1984, Advent launched the first PC-based portfolio accounting system.
  • In 1992, Advent introduced Axys®, the first Windows-based portfolio accounting and reporting solution.
  • On Nov 24 1995, Advent Software went Public on NASDAQ.
  • In 1997, Advent released Geneva®, the global portfolio management platform.
  • In 2009, Advent acquired Tamale RMS®, the leading research management solution for $28 million in cash and stock.
  • In 2011: Advent acquired Black Diamond and its cloud-based wealth management platform for $73 million.
  • In June 2012, former CEO & President Stephanie DiMarco stepped down from Advent Software in favor of current CEO Peter Hess.
  • Advent's Black Diamond was Named "Best Client Reporting Solution" at the FTF News Technology Innovation Awards 2015.
  • SS&C Technologies Holdings, Inc., made the acquisition of Advent Software, Inc for $2.7 billion.

Controversies

  • Feb 2015 - Advent Software, Inc. (NASDAQ:ADVS) Investor Files Lawsuit Over Alleged Wrongdoing In Acquisition - An investor, who held shares of Advent Software, Inc. (NASDAQ:ADVS), filed a lawsuit in effort to halt the proposed takeover of Advent Software, Inc. by SS&C Technologies Holdings, Inc for a value of $44.25 per shares. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:ADVS stockholders by agreeing to sell Advent Software, Inc. too cheaply via an unfair process to SS&C Technologies Holdings. [1]
  • Feb 2015 - Brodsky & Smith, LLC Announces Investigation of The Board of Directors of Advent Software, Inc. - Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Advent Software, Inc. for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to SS&C Technologies Holdings, Inc. [2]

Top 5 Recent Tweets

DateAuthorComment
June 15, 2018athenamikeTerrible customer service! It's taken 2 months just to renew $4000 software (please let me pay you; no new function… https://t.co/5ONooEsw2B


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References

https://www.crunchbase.com/organization/advent-software#/entity

http://finance.yahoo.com/quote/ADVS?ltr=1

http://www.ssctech.com/advent/aboutus/history.aspx

http://www.prnewswire.com/news-releases/ssc-completes-acquisition-of-advent-software-300110342.html

http://www.riabiz.com/a/10667013/peter-hess-will-take-the-ceo-reins-at-advent-software
  1. http://shareholdersfoundation.com/case/advent-software-inc-nasdaqadvs-investor-files-lawsuit-over-alleged-wrongdoing-acquisition
  2. http://brodsky-smith.com/884-advs-advent-software-inc.html

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