SS&C to buy Advent Software for $2.29B in combination of financial services software makers

Technology Associated Press

Financial services software maker SS&C Technologies is buying Advent Software for $2.29 billion in a combination of providers of software for financial services companies.

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At $44.25 per share, that's a 6.9 percent premium to Advent's Monday closing price of $41.39.

The companies said Monday that they value the deal at $2.7 billion when including Advent's debt.

They expect the sale to close during the second quarter, pending approval by regulators and Advent stockholders.

SS&C Technologies Holdings Inc. had about $750 million in revenue over its last four quarters. Advent, of San Francisco, had $397 million in revenue in 2014.

Advent stock is up 5.7 percent to $43.75 in extended trading, while shares of Windsor, Connecticut-based SS&C rise 1.7 percent to $55.50.