San Francisco, CA – June 17, 2015 – Advent Software, Inc. (“Advent”), a leading provider of software and services for the global investment management industry, today announced that the United States Department of Justice (“DOJ”) cleared the proposed acquisition of Advent by SS&C Technology Holdings, Inc. (“SS&C”), terminating the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”). The clearance follows the issuance of a Second Request by the DOJ, which occurred on April 23, 2015. Subject to the satisfaction of other closing conditions, Advent expects the closing of the transaction to occur in the third quarter of 2015.
Over the last 30 years of industry change, our core mission to help our clients focus on their unique strategies and deliver exceptional investor service has never wavered. With unparalleled precision and ahead-of-the-curve solutions, we help nearly 4,300 firms in over 50 countries – from established global institutions to small start-up practices – to grow their business and thrive. Advent technology helps firms minimize risk, work together seamlessly, and discover new opportunities in a constantly evolving world. Together with our clients, we are shaping the future of investment management. For more information on Advent products visit http://www.advent.com.
Forward Looking Statements
This press release includes forward-looking statements intended to qualify for the safe harbor from liability under the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations of the management of Advent Software, Inc. and are subject to uncertainty and changes in circumstances. The forward-looking statements contained herein include the expected timing and conditions precedent relating to the transaction with SS&C; and all other statements other than statements of historical fact. Forward-looking statements include, without limitation, statements typically containing words such as “believes”, “plans”, “projects”, “forecasts”, “may”, “should”, "intends", "expects", "anticipates", "targets", "estimates" and words of similar import. By their nature, forward looking statements are not guarantees of future performance or results and involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future.
There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by forward-looking statements relating to the transaction with SS&C. These factors include, but are not limited to, unanticipated issues associated with the satisfaction of the conditions precedent to the acquisition; issues associated with obtaining any necessary regulatory approvals and the terms and conditions of such approvals; the inability to obtain financing and the terms of any financing.
Information on the potential factors that could affect Advent is also included in its filings with the Securities and Exchange Commission including, but not limited to, its quarterly reports on Form 10-Q, its 2014 Annual Report on Form 10-K and any of its Current Reports on Form 8. Advent undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements only speak as of the date on which they are made.