SAN FRANCISCO – March 17, 2010 - Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that it has entered into an agreement with LIGHT[PORT], Inc., a leading provider of client web reporting solutions for asset managers and advisors.
Through this alliance, LIGHT[PORT]’s solution is available to Advent clients using Advent Portfolio Exchange® (APX), Advent’s integrated portfolio and client relationship management solution, or Axys®, its turnkey portfolio accounting and reporting solution. These clients can easily set-up automated, web-based reporting for their clients via their own custom portal. These portals can be added to an existing website or can be built as standalone sites. LIGHT[PORT] supports integration with locally installed APX and Axys®, or with APX through Advent OnDemandSM, which delivers Advent solutions via the Software-as-a-Service model.
“Advent understands the importance of offering our clients multiple report delivery options. This new relationship with LIGHT[PORT] will provide Advent customers with a customizable and cost-effective option for creating personalized content and delivering exceptional service to their clients,” said Chris Flynn, Vice President of Product Management and Marketing at Advent. “LIGHT[PORT] has a proven track record of providing secure web delivery services to over 500 firms, many of which are already Advent clients, and we are pleased to bring additional benefits to our customers through this alliance.”
“LIGHT[PORT] has a long history of working with Advent clients, so we’re especially excited about this alliance. We saw it as an ideal opportunity for raising market awareness of our new suite of Client Portal options released in 2009,” said Jonathan Bentley, Chief Executive Officer of LIGHT[PORT]. “Our ability to automate web reporting for APX and Axys®, for a low monthly fee per client, allows firms increased client communication in a very cost-effective way.”
Concluded George McLaughlin, Director of Alliances at Advent, "Advent’s relationship with LIGHT[PORT] demonstrates our commitment to continue building a network of proven Alliance Partners to support our large and diverse client base and their business objectives. We are very pleased to continue to offer our customers further value, flexibility and choice through these relationships.”
About Advent’s Alliance Program
Advent's Alliance Program is comprised of Alliance Partners that provide robust solutions that complement and enhance the core capabilities of Advent's offerings. Together with Advent, this elite group of partners offers certified integration to Advent's products. Alliance Partners offer a broad array of systems, software, business information, and other important services uniquely adapted to meet the needs of the Advent client community. These solutions are designed to help customers improve their operational efficiency, and offer superior service to their clients.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 60 countries rely on Advent technology to run their mission-critical operations. 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 and services organization. For more information on Advent products, visit our demo page.
LIGHT[PORT], Inc. is a leading provider of client portals for RIAs, hedge funds, and institutional managers. For over 10 years they have been at the forefront of web services for financial advisors. They have close to 500 client firms managing over $1 trillion in assets. Last year these clients had nearly 30 million site visits by more than 750,000 portal users. For more information on LIGHT[PORT]’s products visit: https://www.lightport.com/default.asp?P=835134&S=835620
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, the successful development, timing, and market acceptance of new products and enhancements, the impact of initiatives by competitors, continued uncertainties and fluctuations in the financial markets and economic conditions 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 2008 annual report on Form 10-K, 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, the Advent logo, Advent Software, Advent Portfolio Exchange and Axys are registered trademarks, and Advent OnDemand is a mark of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.