Advent Software Inc. (Nasdaq: ADVS) has agreed to acquire Tamale Software Inc., a provider of research management solutions. The deal is valued at approximately $70 million, including $28 million in cash. Tamale had raised strategic funding from Morgan Stanley, and is being advised on the sale by GCA Savvian Advisors.
Advent Software, Inc. (ADVS), a leading provider of software and services for the investment management industry, and Tamale Software, Inc., a leader in research management solutions (RMS), today announced the signing of a definitive agreement under which Advent will acquire privately held Tamale Software.
“We're thrilled to have Tamale's innovative technology and proven team on board as we enter the nascent and fast-growing RMS market,” said Advent's Founder and CEO Stephanie DiMarco. “We chose Tamale Software because, as the clear industry leader and a pioneer in the field of RMS, they bring unparalleled vision and a track record of success as we extend Advent's footprint in the front office with this powerful, game-changing productivity tool for our clients' investment teams.”
The Tamale Solution
In recent years, the investment community has struggled to effectively manage and leverage across their organizations a massive influx of investment information (sell-side research, email, independently produced analysis, news, and internet content) in an increasingly complex compliance environment.
Tamale Software solves this problem with Tamale RMS