Advent Software Acquires NPO Solutions

Apr 17, 2001, 01:00 ET from Advent Software, Inc.

    SAN FRANCISCO, April 17 /PRNewswire/ --
 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 of 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 Lorie Slutsky, its President.  "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 web
 site, 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.  Over 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
 three hundred 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 web site 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(TM), 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 NPO and other 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 the Investor Relations page of Advent's website at
 http://www.advent.com/ .  Actual results may differ materially.
 
 

SOURCE Advent Software, Inc.
    SAN FRANCISCO, April 17 /PRNewswire/ --
 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 of 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 Lorie Slutsky, its President.  "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 web
 site, 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.  Over 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
 three hundred 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 web site 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(TM), 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 NPO and other 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 the Investor Relations page of Advent's website at
 http://www.advent.com/ .  Actual results may differ materially.
 
 SOURCE  Advent Software, Inc.