SAN FRANCISCO – February 5, 2008 – Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and services to the investment management industry, today announced that a record 47 customers selected Advent Portfolio Exchange® (APX) in the fourth quarter of 2007. APX is Advent’s award-winning portfolio management and reporting solution offering a powerful platform that brings together mission-critical portfolio and client data for improved portfolio management, performance reporting, and client relationship management.
Advent signed the 47 agreements with a wide range of investment management firms in the U.S. and EMEA region. Since its launch in late 2005, Advent has signed 193 contracts for APX globally.
“We are very pleased with the strong response to APX in the fourth quarter; in fact, we more than doubled our previous single quarter record for adding APX clients,” said Pete Hess, Executive Vice President and General Manager of Advent’s IMG business. “We continue to gain momentum with APX in the market, and are excited about the high level of satisfaction our APX clients have with the system.”
Concluded Hess, “The excellent momentum we are seeing behind APX is a reflection of the product’s leading functionality, scalability and reliability. APX is the most important new product we’ve launched in recent years, and the third quarter launch of APX Version 2.0, which includes performance and analytics capabilities, was a key milestone in this product’s maturity and market acceptance. We will continue to build functionality that anticipates the needs of our customers, and provides them with a sophisticated solution to meet their complex business requirements.”
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX) is Advent’s next generation in portfolio management technology that fully integrates the front office functions of client relationship management (CRM) and performance analysis with the back office operations of portfolio accounting and reporting. This enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today’s amplified compliance environment.
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $18 trillion. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support organization.
Any forward-looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include continued sales of existing products, market acceptance of new products, the impact of initiatives by competitors and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2006 annual report on Form 10-K/A, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com.
Advent and Advent Portfolio Exchange are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.