SAN FRANCISCO – July 20, 2006 – Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and services to the investment management industry, announced today continued sales penetration and momentum in the second quarter, both in the U.S and Europe.
“With 18 clients choosing Advent Portfolio Exchange® and 11 clients choosing Geneva®, Advent is clearly answering a growing need in the investment management industry, where reliable, scalable solutions are vital to the continued growth of buy-side firms," said Stephanie DiMarco, Chief Executive Officer and founder of Advent. “Our expanding client base for these solutions, which reflects both new customers and clients upgrading from the Axys® platform, represents the mission-critical nature of Advent’s solutions, and we are proud to be their partner of choice.”
Advent signed the 29 agreements with a wide range of investment management firms that represented hedge funds, prime brokers, fund administrators, asset managers and investment advisors. The list includes:
Advent’s 4,500 customers, which include 15 of the largest global hedge funds, eight of the top ten global prime brokers, eight of the top ten global fund administrators, and 15 of the 20 fastest growing independent advisors, rely on Advent every day to manage over $12 trillion in total assets.
"These wins, part of the 89 total that we recorded in the second quarter, highlight the fact that Advent’s product offerings continue to perform with a proven reliability that is highly valued by prospects and customers alike,” continued DiMarco. “Driving our market momentum is Advent’s long history of delivering innovative solutions that leverage our deep industry expertise and are supported by world-class customer service, which gives us great confidence about our continued market leadership.”
ABOUT ADVENT GENEVA®
Geneva® is an innovative investment management platform built on a unique open systems architecture that delivers the power and scalability required by the largest asset managers, prime brokers, and global hedge fund administrators in the industry. Geneva® was designed in conjunction with some of the most demanding investment firms in the world, with an eye toward dramatically increasing operational efficiency in high volume, 24x7 operating environments.
ABOUT ADVENT PORTFOLIO EXCHANGE®
Advent Portfolio Exchange® is Advent’s next generation in portfolio management technology that fully integrates the front office functions of client relationship management (CRM) 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 multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in more than 60 countries are using Advent technology to manage investments totaling more than US $12 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their clients, helping them grow their business while controlling costs. Advent is the only financial services company to be awarded the Support Center Practices 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 expectations. These risks and uncertainties include Advent’s ability to continue to sign new customers, market acceptance of new products, the impact of initiatives by competitors, and other risks detailed in Advent’s filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, as amended, copies of which may be obtained by contacting Advent Software at 415-645-1787, or by visiting Advent’s Investor Relations website at www.advent.com.
Advent, Geneva, Advent Portfolio Exchange, and Axys are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
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Katherine Calvert, Advent Software, Inc.
Sarah Rector, Ogilvy Public Relations