|[September 12, 2013]
Confluence Acquires Alternative Investment Industry Data & Reporting Solutions Leader Data Agent
PITTSBURGH & LUXEMBOURG --(Business Wire)--
Confluence, the industry's leading provider of data management
solutions, today announced the acquisition of Data Agent, a leading
provider of alternative investment industry data management and
reporting solutions. Already a proven provider of Form PF and Form
CPO-PQR reporting solutions, Data Agent brings the experience and
expertise to uniquely position Confluence to provide a data management
and automated solution to solve the complex regulatory reporting demands
of the Alternative Investment Management Fund Directive (AIFMD) as AIFMs
across the globe are bracing to comply with the Directive that was
transposed into national law in July of 2013.
Confluence made the announcement as the company debuts its Unity NXT™
AIFMD Transparency Reporting solution at the ALFI Global Distribution
Conference 2013 in Luxembourg.
Like Confluence, Data Agent delivers value to the market by mitigating
risk and ensuring data integrity. Headquartered in Berkley, California,
Data Agent has been providing data consolidation, decision-support
solutions and reporting solutions to the alternative investment industry
since 2003. Data Agent's deep expertise in alternative investment data
management and reporting will complement Confluence's experience in data
consolidation, process automation and reporting in the traditional
investment manaement industry.
"The synergies gained by combining the resources of our two companies
will enable us to deliver even more robust solutions for our clients and
the industry at large to meet the demands of the evolving global fund
industry," says Mark Evans, Confluence Chairman, President and Chief
Executive Officer. "This strategic acquisition strengthens our ability
to deliver innovative solutions as the delineation between traditional
and alternative investments converges and fund industry regulatory
reporting requirements continue to become more globally intensive."
The Unity NXT AIFMD Transparency Reporting solution is a
technology-enabled reporting solution that will enable fund
administrators and AIFMs to meet the requirements of this otherwise
time-consuming reporting requirement while eliminating risks associated
with manual processes and spreadsheets and ensuring data integrity.
For more than 20 years the global investment management industry has
come to trust Confluence to deliver innovative solutions to take the
risk out of fund administration. Helping investment management companies
gain unprecedented control, Confluence automates every step of the fund
administration process-including the collection, creation, confirmation
and delivery of investment product data. Results are lower costs,
reduced risk, decreased reporting turnaround times and the scalability
to automate more processes without additional resources.
Confluence solutions are used by 40 percent of the leading global
investment managers, and more than 60 percent of U.S. mutual funds. From
the Confluence traditional install, hosted and outsourced Unity®
platform solutions to our enterprise-grade SaaS (News - Alert) enabled Unity NXT
platform, Confluence automates critical fund administration and
reporting processes-such as regulatory reporting, financial statement
preparation and performance reporting. Confluence solutions support a
wide array of collective fund investment types - including European
domiciled UCITS, alternative investments, traditional U.S. based '40 ACT
mutual funds, and contemporary fund structures such as ETFs.
Headquartered in Pittsburgh, PA, Confluence serves the international
fund industry with key locations in San Francisco, CA (News - Alert), London and
Luxembourg. For more information, visit www.confluence.com.
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