SS&C Technologies Holdings has completed its acquisition of Advent Software, a provider of software and services for the global investment management industry.

Advent has more than 4,300 customers including asset managers, hedge funds, fund administrators, prime brokers, family offices and wealth management advisory firms, located across more than 50 countries worldwide. With more than 1,200 employees worldwide, Advent generated revenues of USD397 million for the 12 months ended 31 December, 2014.

Under the terms of the merger agreement, Advent stockholders will receive per share consideration of USD44.25. The merger consideration is approximately USD2.63 billion (including the assumption of Advent’s existing debt). 

“This is an exciting time for SS&C and Advent’s customers, employees and shareholders,” says Bill Stone (pictured), SS&C Chairman and Chief Executive Officer. “SS&C has a long history of successful integrations, and we are confident that Advent’s products, services, and dedicated employees will enhance SS&C’s overall offering, improving the customer experience for over 10,000 financial services organisations worldwide. In an industry where big banks dominate the market, SS&C, together with Advent, is the independent, technology-driven alternative, able to provide nimble services and complete transparency throughout the front, middle, and back office operations.”