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13 March 2010 ,
Written by Dhruv Tanwar
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Advent Software has acquired Goya AS, a privately-held Norwegian provider of Tradex – a software for fund managers and distributors across Europe and the Middle East. Advent said the acquisition willa accelerate the growth of its international business and provide an unmatched solution for fund distribution and management across Europe, Middle East and Africa (EMEA).
Advent Software provides solutions to financial services professionals. Since 1983, the firm has grown to encompass firms across 60 countries who rely on its technology to run mission-critical operations. It provides software, data, services and tools enable financial professionals to improve service and communication with clients to grow their business while controlling costs.
Advent acquired all of the outstanding shares of Goya under the acquisition agreement. It will now offer Goya's flagship product, Tradex, which is a web-based software solution for fund managers and distributors in Europe and the Middle East. Tradex allows financial services professionals to make their own and third party funds available to advisors, branches, resellers and shareholders, providing an automated order flow process, which is otherwise alrgely labour intensive and high volume. Tradex also seamlessly handles fund switches, standing orders, savings and pension plans, and it manages sales commissions.
Tradex would be offered along with Advent’s solution for portfolio management and accounting, the Advent Portfolio Exchange (APX) and trade order management, Moxy. Advent said its clients would now have a powerful integrated front-to-back office solution for fund and asset management. The system is said to be already in use at several mutual Advent and Goya clients.
Stephanie DiMarco, Founder and Chief Executive Officer of Advent said she foresaw a “rapidly changing market landscape in EMEA and with Tradex” and Advent's EMEA clients will have the tools to keep pace with the trends as a result of the acquisition. |