U.S. Department of Justice Clears SS&C's Acquisition of Advent
June 17 2015 - 4:01PM
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.
About Advent
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.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Advent Software, Inc. via Globenewswire
HUG#1929360