Seattle and San Francisco, April 29, 2002 - Advent Software, Inc. (Nasdaq: ADVS) and Avanade Inc. today announced their plan to make available a highly scalable asset management software solution tailored for the financial services industry's largest institutions.
The solution will combine Advent's Axys portfolio accounting solution with the Microsoft® .NET Enterprise Server technologies to meet the processing needs of firms that are managing in excess of 500,000 accounts. Technical underpinnings of the solution will be provided by the Avanade Connected Architecture for .NET (ACA for .NET).
The solution, which will be jointly delivered by Advent and Avanade, will provide a robust infrastructure that allows financial institutions to deliver their services to greatly increased numbers of investors, and will also boost technical, operational, and management efficiencies. By using ACA for .NET, the companies will also ensure that the solution has the added flexibility inherent in the Microsoft .NET Enterprise Server family, including Windows 2000 Server and SQL Server 2000.
"This solution is an important moment for Advent as it will allow us to greatly enhance our ability to provide mission critical solutions for the largest financial enterprises in the world," said Collin Cohen, executive vice president of Advent Software, "By working with Avanade, we will be able to develop this solution with the utmost confidence in its reliability and scalability, and replicate the success we've had in other areas of the marketplace."
"Our unique heritage of Microsoft product expertise made us an ideal partner to help Advent ready its solution for large enterprises," said George Lipsker, Avanade's director of market development for the financial services industry. "And our experience with large-scale financial services industry customers means we are well positioned to customize this solution for the individual needs of these customers to ensure rapid, secure, cost-effective deployment."
"We're extremely pleased to be working closely with Advent and Avanade in this process. "Through our collaboration and with Avanade's expertise, the financial services industry will be able to realize the significant potential benefits of Microsoft's .NET platform," said Bill Hartnett, Microsoft's general manager of financial services.
Advent Software, Inc. has been providing trusted solutions to the world's leading professional money managers since 1983. Firms in 45 countries use Advent technology to manage investments totaling more than US $8 trillion. Advent's quality software, data, services and tools enable managers to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent's common stock is traded on the NASDAQ National Market under the symbol ADVS.
Avanade is the world's premier technology integrator for Microsoft solutions in the enterprise. With Development Centers in Europe, Asia-Pacific, and the Americas, Avanade delivers secure, reliable, scalable Microsoft-based solutions to help Global 2000 companies optimize their technology investments across the connected enterprise.
Founded in April 2000 as a joint venture between Microsoft Corp. and Accenture, Avanade offers customers unique value based on a heritage of commitment to superior service, paired with unmatched insight into cutting-edge Microsoft technologies. Additional information can be found on the Avanade Website at www.avanade.com.
Advent Software, Inc.
301 Brannan Street
San Francisco CA 94107