MARLBOROUGH, MA AND SAN FRANCISCO, CA, May 3, 2004 - LiveVault Corporation® (www.livevault.com), the leading provider of online backup and recovery solutions for business servers, and Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software to the professional investment management industry, today announced a partnership to provide online backup and guaranteed recovery to thousands of businesses in the financial services industry. Through this partnership, Advent will sell the LiveVault Online Backup and Recovery Service to customers as its recommended solution for disaster recovery.
Advent provides a full suite of investment management technology solutions and high-end global portfolio accounting technology to a variety of markets, including the asset management, bank and trust, family office, hedge fund, fund administration and global asset management markets.
Advent is now enhancing its solutions by offering its investment management clients unparalleled data protection and recovery capabilities through LiveVault. The LiveVault Online Backup and Recovery Service enables Advent customers to replace error-prone tape backup systems with a highly reliable data recovery solution that automatically backs up and securely transmits data off-site.
“Advent’s customers conduct business every day with critical, dynamic data and as a result we’re very interested in providing them with a convenient disaster recovery solution that will provide a high level of protection. The LiveVault solution provides this, while being easy to implement and recover data in the event of a disaster,” said Dan Nye, executive vice president of Advent. “Through this partnership with LiveVault, Advent will be able to provide our customers with the best data protection service available, and provide an even more functional solution set.”
The LiveVault Online Backup and Recovery Service works by automatically and continuously backing up business server data via a secure Internet connection and storing it in a secure, off-site facility, where it is available for immediate—and guaranteed—recovery in the event of a system failure, virus, human error or other disaster.
The LiveVault service is designed for customers whose servers reside outside of major data centers, such as enterprise remote or branch offices, and who have primarily relied on in-house tape backups to keep their data safe. Analysts estimate nearly 50 percent of tape-based backups for these distributed servers fail to restore properly, seriously compromising the operations, and potentially the viability, of affected companies. Conversely, LiveVault’s fully managed service offers a 100 percent data recoverability guarantee so companies can always be open for business.
“This partnership with Advent will make reliable data disaster recovery available to thousands of businesses in the investment management industry,” said Bob Cramer, president and CEO of LiveVault. “We’re delighted to be working with Advent to offer these customers the most convenient and effective way to ensure that critical business data is absolutely safe and always recoverable.”
About Advent Software, Inc.
Advent Software, Inc. (NASDAQ: ADVS) has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 55 countries using Advent technology manage investments totaling more than US $8 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. For more information, please visit Advent’s web site at www.advent.com.
About LiveVault Corporation
LiveVault Corporation is the leading provider of fully managed online data backup and recovery services. LiveVault automatically and continuously backs up server data, protects it offsite at a secure, remote facility, and makes it immediately available for recovery 24x7. Through its partnerships with Iron Mountain (NYSE: IRM), BT (NYSE: BTY), Hewlett-Packard (NYSE: HPQ), Microsoft (NASDAQ: MSFT), and others, LiveVault helps ensure the business continuity of mid-sized businesses, as well as distributed offices of larger enterprises. LiveVault is based in Marlborough, Mass. For more information visit www.livevault.com or call (508) 460-6670.
LiveVault is a registered trademark of LiveVault Corporation. Other product and company names mentioned herein may be trademarks and/or service marks of their respective owners. All rights reserved.
Advent Software, Inc.
301 Brannan Street
San Francisco CA 94107