WINDSOR, Conn., April 23, 2015 /CNW/ -- SS&C Technologies Holdings, Inc. ("SS&C") (Nasdaq: SSNC) today announced that SS&C and Advent Software, Inc. ("Advent") have each received a request for additional information ("second requests") from the United States Department of Justice ("DOJ") in connection with SS&C's pending acquisition of Advent. The second requests were issued under the notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act").
The effect of the second requests is to extend the waiting period imposed by the HSR Act until 30 days after SS&C and Advent have substantially complied with the requests, unless that period is extended voluntarily by both parties or terminated sooner by the DOJ. SS&C and Advent expect to promptly respond to the second requests and to continue working cooperatively with the DOJ as it conducts its review of the pending transaction, which remains subject to other customary closing conditions. SS&C and Advent expect the closing of the transaction to occur in the second or third quarter of 2015.
Additional Information and Where to Find It
In connection with the proposed merger, SS&C filed a Current Report on Form 8-K with the Securities and Exchange Commission (the "SEC") on February 2, 2015. Investors are urged to read the Current Report and any other relevant documents filed by SS&C with the SEC when they become available, because they will contain important information about the proposed merger. Investors may obtain free copies of documents filed with the SEC by SS&C through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by SS&C will be available free of charge on SS&C's Investor Relations web site at http://investor.ssctech.com or by contacting SS&C's Investor Relations Department by email at InvestorRelations@sscinc.com.
Forward Looking Statements
This written communication includes information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the current expectations of the management of SS&C and are subject to uncertainty and changes in circumstances. Forward-looking statements include, without limitation, statements typically containing words such as "will", "expect", "should", "could", "shall" and words of similar import. By their nature, forward looking statements are not guarantees of future performance or results and involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future.
There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by forward-looking statements relating to the Advent acquisition. These factors include, but are not limited to, unanticipated issues associated with the satisfaction of the conditions precedent to the acquisition; issues associated with obtaining necessary regulatory approvals and the terms and conditions of such approvals; the inability to obtain financing and the terms of any financing. Additional factors that could cause actual results and developments to differ materially include, among others, the state of the economy and the financial services industry.
Information on the potential factors that could affect SS&C is also included in its filings with the SEC including, but not limited to, its Annual Report on Form 10-K for the fiscal year ended December 31, 2014. SS&C undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements only speak as of the date on which they are made.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. Some 7,000 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $26 trillion in assets.
Additional information about SS&C (NASDAQ: SSNC) is available at www.ssctech.com.
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For further information: Patrick Pedonti, Chief Financial Officer, Tel: +1-860-298-4738, E-mail: InvestorRelations@sscinc.com, or Justine Stone, Investor Relations, Tel: +1- 212-367-4705, E-mail: InvestorRelations@sscinc.com, http://www.ssctech.com