Advent Software Board of Directors Completes Review of Strategic Alternatives and Remains Committed to Independent Path
SAN FRANCISCO – March 18, 2013
– Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, announced today that the Board of Directors has recently completed a review of its strategic alternatives with the assistance of its financial advisor, Qatalyst Partners, and its legal counsel, Wilson Sonsini Goodrich & Rosati.
Following a comprehensive review process, the Board has determined that it is in the best interests of the Company and its shareholders to continue to execute on its strategic plan as an independent company.
“We engaged in a thorough process and carefully considered various alternatives,” said Pete Hess, Advent’s Chief Executive Officer. “The Board believes we can best maximize shareholder value through pursuing our current strategic plan and our strong balance sheet and competitive position will allow us to continue to pursue strategies we believe will enhance shareholder value.”
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Advent’s proven solutions can increase operational efficiency, reduce risk, and eliminate the boundaries between systems, information and people so you can focus on what you do best. With more than 4,500 client firms in over 60 countries, Advent has established itself as a leading provider of mission-critical solutions to meet the demands of investment management operations around the world. 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 http://www.advent.com/about/resources/demos/pr
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