NEW YORK – 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.