Advent Software has acquired Norwegian software provider Goya AS. Terms of the deal were not disclosed. Through this acquisition, Advent now offers the product Tradex, which is complementary to Advent’s existing products and is already implemented at a significant number of Advent clients in Europe and the Middle East.
Tradex is ideal for fund managers and fund distributors seeking a reliable, web-based fund distribution platform. With Tradex, these firms can efficiently make their own and third-party funds available to their advisers, branches, resellers and end investors via a fully automated order flow that can also track and manage sales commissions.
Advent is well known for its portfolio management and accounting platform, Advent Portfolio Exchange, and order management product, Moxy.
“We are delighted to welcome Goya’s innovative technology and talented team to Advent as we continue to grow our global business,” said Stephanie DiMarco, founder and chief executive officer of Advent. “We see a rapidly changing market landscape in Europe, the Middle East and Asia, and with Tradex, our EMEA clients will have the tools to keep pace with the trends.”
As one Goya client, Karine Hirm, chief executive officer of East Capital of Sweden, put it: “Getting closer to investors and building relationships with distributors is one of the top issues for fund managers today. The financial crisis has made this even more strategically important. Looking ahead, regulators are going to make these capabilities even more relevant.”