Friday, September 5, 2008

Advent Software Acquires Tamale Software

San Francisco-based Advent Software, a provider of software for the investment management industry, said Thursday afternoon that it has agreed to acquire Tamale Software, based in New York. Advent said it would pay approximately $70M for Tamale, in a combination of cash and stock. Tamale Software develops software used to manage investment research. Advent said it expects 2009 revenue from Tamale to be in the range of $17 to $20M. Tamale's team and employees in New York, boston, and the UK will join Advent. Tamale was advised by GCA Savvian Advisors in the deal.