|
For Immediate Release
Contact: Irv Lichtenwald - Chief Financial Officer
Contact: Robin Goodstein - Investor Relations
Advent Software, Inc.
301 Brannan Street
San Francisco, CA 94107
415.543.7696
Advent/MicroEdge Acquires NPO Solutions
San Francisco, CA, April 17, 2001 - Advent Software, Inc. (Nasdaq: ADVS) through its wholly owned subsidiary MicroEdge, Inc., has acquired NPO Solutions, a provider of integrated computer solutions for nonprofit organizations. NPO Solutions is a privately held company based in Loudon, New Hampshire. Advent paid approximately $6.5 million for all the shares of NPO Solutions. The acquisition closed April 16, 2001. The company expects the acquisition to be non-dilutive. NPO Solutions Partners Michael J. Church, David Dietrich, and John Sestak, and all of the approximately 30 NPO employees, are expected to remain with Advent following the acquisition.
MicroEdge is the leading provider of grants management software and solutions for the philanthropic community. NPO Solutions is the premier provider of software solutions for community foundations. The two companies have a combined installed base of more than 1,900 organizations and more than 11,000 users.
“MicroEdge and NPO Solutions offer uniquely complementary services to the grant giving community,” said Peter Caswell, President and CEO of Advent Software. “Combining the strength of MicroEdge’s leading grants management software with NPO Solutions’ strong presence in the community foundations market will add tremendous value to each other, and to the communities they serve. And by expanding our presence in the community foundation market we are adding further diversification to Advent’s revenue stream,” Caswell continued.
“This deal signifies our commitment to providing the highest quality software products and services to the philanthropic community,” said Dov Torenberg, MicroEdge Co-founder and Chief Technology Officer. “We are thrilled to be joining forces with NPO Solutions, who have made great headway in the community foundations market, and who are so widely respected in that community. This agreement will allow us to expand our product offering to our existing client base, while giving us the potential to expand to additional segments of the philanthropic community.”
“Community foundations are experiencing tremendous growth, and there are significant opportunities for us to help them to better serve their donors and communities by providing leading technology solutions, and forging closer relationships with the financial community. Joining forces with MicroEdge and Advent will give us the important infrastructure we need to address the changing needs of this market,” said John Sestak, Partner at NPO Solutions. “Leveraging MicroEdge’s technology, particularly their Web-based products, and Advent’s experience and strong reputation in the financial services industry, will ensure NPO’s success in serving our core market, while quickly growing our business.”
"We, at The New York Community Trust, are delighted with this development," said Trust President Lorie Slutsky. "It helps to ensure that community foundations nationwide have a technology platform from which to ensure excellent service to their donors and their grantees."
"NPO has long been recognized as the leading technology partner to community foundations, both large and small. The partnership between NPO and Advent and MicroEdge is the best thing that could happen to community foundations to propel and power our technology needs moving forward,” said James A. Pitts, Vice President for Finance & Administration, Boston Foundation. “There are tremendous possibilities inherent in combining the unique resources of these companies that will benefit community foundations and the philanthropic community as a whole. Our experience with NPO has been a very positive one, which I now see as being greatly enhanced by their new relationship with Advent and MicroEdge."
A question-and-answer document further outlining Advent’s acquisition of NPO Solutions can be found on the Investor Relations page of Advent’s Website, at www.advent.com.
About MicroEdge
MicroEdge, Inc., a subsidiary of Advent Software, Inc. is the leading provider of software to the grantmaking community worldwide. MicroEdge offers software and services for grants management, matching gifts, and volunteer tracking. More than 1,600 organizations and 10,000 grantmakers use MicroEdge’s proven products to administer their giving programs. MicroEdge, Inc. is headquartered in New York City with regional offices in Atlanta, Fort Lauderdale, Pittsburgh, and Seattle. MicroEdge has more than 75 experienced staff dedicated to serving the grantmaking community. The company has been continuously meeting the needs of grantmakers under the same leadership since 1985.
About NPO Solutions
Since 1993, NPO Solutions has been the leading provider of information management software to community foundations and the major producer of foundation software that integrates fundraising, grants management, and financial management into a unified system. Over the past eight years, NPO Solutions has grown from a two-person venture serving three community foundations to a major provider of integrated software solutions to nearly 300 institutional clients with more than 1,600 users. NPO Solutions has offices in New Hampshire, Connecticut, and Minnesota. For more information, see the NPO Solutions Website at www.nposolutions.com.
About Advent
Advent Software, Inc. is a leading provider of Enterprise Investment Management solutions, offering stand-alone and client/server software products, data interfaces, and related services that automate and integrate mission-critical functions of investment management organizations. Advent Office™, the industry’s first and only Enterprise Investment Management solution, enables investment firms to build a truly client-centric organization. Advent Office is a suite of complementary products used to automate the entire range of investment management functions, including portfolio management, client relationship management, trade order management, datawarehousing, partnership accounting, reconciliation management, and Web-based portfolio, performance, and analytic reporting. Advent has licensed its products to more than 6,500 financial institutions in 45 countries for use by more than 60,000 concurrent users. The company’s common stock is traded on the Nasdaq National Market under the symbol ADVS.
The forward looking statements included in this press release, which reflect management’s best judgment based on factors currently known, involve risks and uncertainties including potential fluctuations in results and future growth rates, the successful development and market acceptance of new products and product enhancements, fluctuations in the financial markets, challenges assimilating acquired entities and other risks detailed from time to time in the company’s SEC reports, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Advent Software’s Investor Relations Department at 415.645.1243 or Advent’s Investor Relations Website at www.advent.com. Actual results may differ materially.
###
| |
| Morris Animal Foundation Chooses MicroEdge
MicroEdge Announces Release of GIFTS® Software Development Kit (SDK)
Advent Software Reports Third Quarter '04 Results
MicroEdge and Neulogic Announce Strategic Alliance
MicroEdge presents solutions for Strategic Corporate Philanthropy at the 2004 Corporate Grantmakers Summit
Communicating to Influence, Inquire & Inform
Catholic Community Foundation uses MicroEdge|NPO Solutions to more effectively manage investments and earnings allocations
FIMS helps track and administer rapidly growing charitable gifts annuities
Winnipeg Foundation realizes exceptional growth with MicroEdge/NPO Solutions
Canada's oldest and second largest community foundation automates administration processes to effectively manage over 1,500 funds
Monterey Peninsula Foundation simplifies foundation processes with MicroEdge
Sports philanthropists get out of the "rough" with Essential GIFTS
San Antonio Area Foundation Brings Easier, Online Grant Process with MicroEdge/NPO Solutions
Community Foundation reduces application processing time by over 75% using IGAM for FIMS
William Penn Foundation uses MicroEdge Internet Tools to connect Board Members through the Web
Board meeting preparation and matching gifts administration simplified with MyGIFTS & IGAM.
University of Tennessee at Chattanooga Foundation Revolutionizes Accounting Practices with MicroEdge|NPO Solutions
“Nightmare” calculations are now dream come true with FIMS
MicroEdge Discusses Accountability, Compliance, Evaluation and Measurement at Council on Foundations 55th Annual Conference
MicroEdge presented a seminar on effective evaluation and measurement at the Council on Foundations 55th Annual Conference in Toronto, held on April 25 - 28, 2004.
MicroEdge/NPO Solutions Selected by Community Foundations Technology Steering Committee
Collaboration Paves the Way for the Development of CRM, API, and Next Generation Foundation Management Systems
Permanent CEO Named for Advent Software
Advent Software announces Stephanie DiMarco, founder of Advent Software, has been appointed permanent chief executive officer, a position she has been holding on an interim basis since May, 2003.
MicroEdge Releases MyGIFTS V. 2
The New Standard for Grantmaking on the Web MyGIFTS version 2.0 offers personalized grants management
MicroEdge Releases ReviewerCONNECT
ReviewerCONNECT is a Web-based tool that provides reviewers easy, online access to proposals, enabling a more efficient grant review process.
MicroEdge and NPO Solutions join Merrill Lynch to launch the Merrill Lynch Community Charitable FundSM Program
MicroEdge and NPO Will Provide Grant Management Tools and Services for Donors Seeking Expert Philanthropic Guidance and Enhanced Social Impact.
|
|
| Contact Information
How to reach MicroEdge sales, support, and more.
NPO Solutions
A subsidiary of MicroEdge/Advent Software
Job Openings
We currently have a range of openings, and offer competitive salary, generous benefits, and the security of an established, market-leading company.
Client Charter:
Our Commitment to You
Since its founding in 1985, MicroEdge has demonstrated a solid commitment to meeting the information management needs of the grantmaking community.
Press Releases
Find out what's news with MicroEdge and our partners.
MicroEdge Holidays
MicroEdge will be closed on these days.
GIFTS Client Testimonials
Here's what clients say about GIFTS.
GIFTS Clients
See a partial Listing of our GIFTS Clients.
Essential GIFTS Clients
See a partial Listing of our Essential GIFTS Clients.
MicroEdge/NPO Mission Statement
The MicroEdge/NPO Mission is to support all aspects of giving by delivering the highest quality solutions to individuals, non-profits and businesses through innovative technology and services.
|
|
|
