SS&C Technologies Holdings, Inc. and Advent Software, Inc. Voluntarily Provide DOJ Additional Time for Merger Review
March 23 2015 - 4:22PM
SS&C Technologies Holdings, Inc. ("SS&C") (Nasdaq:SSNC)
today announced that, following informal discussions with the staff
at the Antitrust Division of the United States Department of
Justice ("DOJ"), SS&C and Advent Software, Inc. ("Advent")
(Nasdaq:ADVS) have agreed to voluntarily provide the DOJ with
additional time to review the proposed acquisition of Advent by
SS&C.
SS&C, as the acquiring party, will withdraw and refile its
pre-merger notification and report form under the Hart-Scott-Rodino
Antitrust Improvements Act ("HSR"), which will restart the 30-day
time frame for initial review of the transaction. The waiting
period for the new filing will expire at 11:59 p.m. on April 23,
2015, unless earlier terminated by the DOJ, or the DOJ makes a
formal request for additional information prior to the expiration
of the waiting period.
Additional Information and Where to Find It
In connection with the proposed merger, SS&C filed a Current
Report on Form 8-K with the Securities and Exchange Commission (the
"SEC") on February 2, 2015. Investors are urged to read the Current
Report and any other relevant documents filed by SS&C with the
SEC when they become available, because they will contain important
information about the proposed merger. Investors may obtain free
copies of documents filed with the SEC by SS&C through the
website maintained by the SEC at http://www.sec.gov. Copies of the
documents filed with the SEC by SS&C will be available free of
charge on SS&C's Investor Relations web site at
http://investor.ssctech.com or by contacting SS&C's Investor
Relations Department by email at InvestorRelations@sscinc.com.
Forward-Looking Statements
This written communication includes information that could
constitute forward-looking statements made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on the current
expectations of the management of SS&C and are subject to
uncertainty and changes in circumstances. Forward-looking
statements include, without limitation, statements typically
containing words such as "will," "expect," "should," "could,"
"shall" 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 Advent
acquisition. 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 necessary regulatory approvals and the terms and
conditions of such approvals; the inability to obtain financing and
the terms of any financing. Additional factors that could cause
actual results and developments to differ materially include, among
others, the state of the economy and the financial services
industry.
Information on the potential factors that could affect SS&C
is also included in its filings with the SEC including, but not
limited to, its Annual Report on Form 10-K for the fiscal year
ended December 31, 2014. SS&C 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.
About SS&C Technologies
SS&C is a global provider of investment and financial
software-enabled services and software focused exclusively on the
global financial services industry. Founded in 1986, SS&C has
its headquarters in Windsor, Connecticut and offices around the
world. Some 6,900 financial services organizations, from the
world's largest institutions to local firms, manage and account for
their investments using SS&C's products and services. These
clients in the aggregate manage over $26 trillion in assets.
Additional information about SS&C (Nasdaq:SSNC) is available
at www.ssctech.com.
Follow SS&C on Twitter, Linkedin and Facebook.
CONTACT: Patrick Pedonti
Chief Financial Officer
Tel: +1-860-298-4738
E-mail: InvestorRelations@sscinc.com
Justine Stone
Investor Relations
Tel: +1- 212-367-4705
E-mail: InvestorRelations@sscinc.com
Media Contacts
Sarah Mason
Metia (UK)
Tel. +44 (0)20 3100 3613
Email: ss&c@metia.com
Kheli Chevalier
BackBay Communications (US)
Tel: +1-617-556-9982 ext.228
Email: ss&c@metia.com