I am pleased to share that, earlier today, SS&C’s CEO and Chairman Bill Stone and I announced that we have entered into a definitive agreement under which SS&C will acquire Advent. This is an exciting opportunity for Advent to expand and accelerate the value we offer you, and I would like to share the rationale for the acquisition and why I am convinced this will be to the benefit of all our clients.
Since our founding, Advent has been focused on helping our clients thrive, working to help you run your businesses as successfully as possible. Over the years, we have earned the trust of thousands of firms like yours by making good on our commitment to enhancing your existing Advent solutions and bringing new capabilities to market that help you further streamline operations and meet the demands of your clients.
I see the combination of Advent and SS&C as a powerful team that can take a big leap forward in the value proposition we offer the industry. As I’ve heard from so many of you in recent years, the investment management industry is evolving rapidly and under ever-increasing pressure, whether from margin or fee compression, shifting regulatory standards, or expansions into new products or lines of business. We know you need more complete and flexible solutions from us to navigate these market dynamics, and that’s what makes this acquisition so exciting. SS&C has a rich history of delivering a leading combination of people, process, and technology that complements Advent’s existing solutions, and the additional scale and resources we will have as a united team will accelerate our ability to provide the industry with game-changing solutions for your business.
Advent will operate as an independent business unit within SS&C, continuing to focus on the markets we serve and delivering the innovation and quality you expect across our product and service offerings. As we move forward and dig more deeply into the capabilities of each other’s solutions sets, I look forward to sharing ways that we can further expand the value we offer you by integrating SS&C’s industry-leading solutions and services.
While the transaction is still subject to shareholder approval and other customary closing conditions, the acquisition is expected to close in Advent’s second fiscal quarter. Our teams will be working closely together in the coming weeks and months, and we will update you on our progress accordingly. Please know that while we may not have all the answers immediately, we are committed to remaining the partner you trust and to accelerating the industry-leading innovation that you expect from us.
Advent exists to deliver solutions that help the investment management industry thrive and transform. SS&C is acquiring Advent so that we can jointly accelerate our ability to fulfill that mission by sharing each other’s capabilities and assets. This is good news for our shared future, and we look forward to working hard to prove it to you in the coming months and years.
Additional Information and Where to Find It
In connection with the transaction, the Company intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a preliminary proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by the Company with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or through the investor relations section of the Company’s website (http://www.advent.com).
Participants in the Solicitation
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders with respect to the transaction. Information about the Company’s directors and executive officers and their ownership of the Company Common Stock is set forth in the Company’s proxy statement on Schedule 14A filed with the SEC on March 27, 2014. Information regarding the identity of the potential participants, and their direct or indirect interests in the transaction, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with SEC in connection with the transaction.
The communication above contains “forward-looking statements,” relating to the acquisition of Advent by SS&C Technologies Holdings, Inc. All statements other than historical facts included in this communication, including, but not limited to, statements regarding the timing and the closing of the transaction, the expected benefits of the transaction, prospective performance and future business plans, and any assumptions underlying any of the foregoing, are forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown, or unknown risks or uncertainties materialize, actual results could vary materially from the parties’ expectations and projections. Risks and uncertainties include, among other things, uncertainties regarding the timing of the closing of the transaction, uncertainties as to the Company’s stockholder approval of the transaction; the possibility that various closing conditions to the merger may not be satisfied or waived, including that a governmental entity may prohibit, delay, or refuse to grant approval for the consummation of the transaction; that there is a material adverse change to the Company; that the integration of Advent’s business into SS&C is not as successful as expected; the failure of SS&C to achieve the expected financial and commercial results from the transaction; other business effects, including effects of industry, economic or political conditions outside the company’s control; transaction costs; actual or contingent liabilities; as well as other cautionary statements contained elsewhere herein and in the companies’ periodic reports filed with the SEC including the factors set forth in the Company’s most recent quarterly report on Form 10-Q and the proxy statement to be filed by the Company. These forward-looking statements reflect the Company’s expectations as of the date of this communication. Advent undertakes no obligation to update the information provided herein. Additional information about Advent is available at www.advent.com.