Science & Technology
Science and Technology
Science and Technology 
Wed, March 2, 2011
Tue, March 1, 2011
LONDON and SAN FRANCISCO, CA--(Marketwire - March 1, 2011) - Advent Software, Inc. (
Advent's Founder and Chief Executive Officer, Stephanie DiMarco, commented, "With an ongoing market focus on risk management, liquidity control and operating efficiency, there is an increased demand by hedge funds and prime brokers to automate the margin and finance cost process. This acquisition enables us to extend our footprint by expanding and enhancing our offering for the alternative asset industry with margin and finance calculation, optimization and reconciliation -- a great example of our growth strategy in action. We are thrilled to welcome Syncova's innovative technology and talented team to Advent."
Advent will now offer Syncova's powerful end-to-end margin calculation and optimization solution, Optima; its debit finance reconciliation and optimization solution, Abacus; and its additional services. Already in use by several mutual clients, Syncova's solutions enable hedge funds and prime brokers to calculate expected margin, reconcile and control differences. Hedge funds can attribute margin requirements to internal traded positions and optimize borrow costs, processes which often are manual and prone to errors. Prime brokers will have better control over their asset-based pricing models, client monitoring and performing intra-day margin analysis. Optima and Abacus will be part of Advent's solution for the alternative asset market; they will be available for purchase integrated with Geneva® and also available as standalone products.
Syncova's Chief Executive Officer, Liam Huxley, said, "We are delighted to be joining forces with a proven leader that shares our commitment to innovation and driving success for our clients. Becoming part of the Advent team provides a wonderful opportunity to take Syncova to the broader marketplace. The winning combination of Geneva® and Syncova offers an unmatched solution for the alternative asset market."
Syncova has over 10 years unique experience and knowledge of the margin and financing needs of the hedge fund and prime broker sector. The Company has delivered flexible, proven solutions to meet the individual current and future margin, financing and stock borrow management requirements of a global client base. The Syncova management team and its employees, based in London and New York, will join Advent, and will continue to support clients and develop, service and sell the Syncova solution.
About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world's financial professionals since 1983. Firms in more than 50 countries rely on Advent technology to run their mission-critical operations. 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. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit [ http://www.advent.com/about/resources/demos/pr ].
Forward-looking Statements
This press release includes "forward looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, without limitation, statements regarding: the expected benefits of the acquisition to Advent's leadership and market position; Advent's scale, resources, expertise and presence; Advent's products and services; and Advent's customers; and other matters that involve known and unknown risks, uncertainties and other factors that may cause Advent's actual results, levels of activity or performance to differ materially from that expressed or implied by this press release. Such risk factors include, among others: difficulties encountered in integrating merged businesses and achieving expected synergies; whether certain market segments grow as anticipated; Advent's ability to retain key employees; the competitive environment of the software industry and competitive responses to the acquisition; and whether the companies can successfully integrate existing products, develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contemplated in the forward-looking statements in this press release. Additional information concerning these and other risk factors is contained in Advent's most recently filed quarterly report on Form 10-Q and 2009 annual report on Form 10-K. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Advent, the Advent logo, Advent Software and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.