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SS&C Buys Advent Software

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Windsor-based SS&C Technologies Holdings is buying San Francisco-based Advent Software, Inc. for about US$ 2.3 billion in cash. The total transaction value is US$ 2.7 billion with debt included. Due to the global financial crisis, more financial data providers are merging to save money on costs. SS&C is paying US$ 44.25 per share, a 7% premium to Advent’s Monday closing price. Both SS&C and Advent’s Board of Directors have unanimously approved the deal.

SS&C has been on a buying spree acquiring DST Global Solutions in December 2014 and GlobeOp earlier. SS&C bought DST to have a larger presence in EMEA and the Asia-Pacific region. 90% of DST’s revenues come from those regions.

Bill Stone, Chairman and Chief Executive Officer of SS&C said in a press release, “The acquisition reinforces our focus on our clients. Advent Software, combined with SS&C’s complementary offerings in SaaS, middle office services, regulatory solutions, mobile applications and FIX, is unmatched. One Advent product, Geneva ®, already has 2,400 SS&C personnel using it everyday. Black Diamond® is a premier product in the registered investment advisor market and we look forward to continuing Black Diamond’s success. Advent Portfolio Exchange®, Axys®, Moxy®, and the entire product portfolio adds depth and breadth. We are excited to have Pete Hess and his team and the entire Advent community. We intend to continue our combined strengths in innovation, client focus and employee opportunity.”

SS&C was advised by Deutsche Bank and Morgan Stanley. The legal advisor for SS&C was Davis Polk & Wardwell LLP. Advent Software was advised by Qatalyst Partners and Wilson Sonsini Goodrich & Rosati.

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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