SS&C Acquires Advent Software for $ 2.3 Billion

SS&C Acquires Advent Software for $ 2.3 Billion

SS&C Acquires Advent Software for $ 2.3 Billion

SS&C Technologies agreed to buy Advent Software for about 2.3 Billion in cash deal.

Under the terms of deal, SS&C will pay $ 44.25 a share. It is 7 percent premium to Monday closing price of Advent’s shares. Including the debt, the transaction is valued at $ 2.7 Billion.

 Similar transactions in the past were purchasing hedge fund services company GlobeOp for  $860 Million in 2012 and DST Global Soultions for $ 95 Million in last year. SS&C plans to refinance Advent’s debt with new $3 billion in new borrowings, issuing about $400 million in new stock and cash on hand.

 Deutsche Bank, Morgan Stanley and the law firm Davis Polk & Wardwell advised SS&C, while Qatalyst Partners and Wilson Sonsini Goodrich & Rosati advised Advent.

 The deal is expected to close by the middle of the year after Advent shareholders and regulators approval.

 Mr. Stakebay says :

 Buying Advent SS&C will gain software provider used by 4,300 investment fund managers, including family offices and hedge funds. SS&C and Advent expect annual cost savings about $45 Million within three years. It’s one of last acquistions to expand its bussinesses.

CEO and President of Advent software………PETE HESS……….(2008-present)….$ 3 917 655 (2013)

CEO and Chairman of SS&C …………… WILLIAM C. STONE…..(1986-present)… $ 6 576 051 (2013)

 

SS&C

ADVENT SOFTWARE

Revenue

$ 712.702 Million (2013)

$ 92. 937 Million (2014)

Operating income

$ 182.968 Million (2013)

$ 14.698 Million (2014)

Profit

$ 117. 895 Million (2013)

$ 14.703 Million (2014)

Total assets

 $ 2.275 Billion (2013)

$ 434.869 Million (2014)

Total Equity

$ 1.231 Billion (2013)

$ – 76 Million (2014)

Employees

 4194 (2013)

1209 (2014)

 

 

 

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