Under the terms of the agreement, Advent has acquired all of the outstanding capital stock of Syncova for an undisclosed amount.
With this acquisition, Advent will now offer Syncova’s end-to-end margin calculation and optimization solution, Optima; its debit finance reconciliation and optimization solution, Abacus; and its additional services. Optima and Abacus will be part of Advent’s solution for the alternative asset market.
Syncova’s solutions enable hedge funds and prime brokers to calculate expected margin, reconcile and control differences. Hedge funds can attribute margin requirements to internal traded positions and optimize borrow costs, processes which often are manual and prone to errors.
Through Syncova solutions, the prime brokers can have better control over their asset-based pricing models, client monitoring and performing intra-day margin analysis.
Advent’s founder and CEO Stephanie DiMarco said that this acquisition enables Advent to extend the footprint by expanding and enhancing the offering for the alternative asset industry with margin and finance calculation, optimization and reconciliation – a great example of growth strategy in action.
The Syncova management team and its employees, based in London and New York, will join Advent, and will continue to support clients and develop, service and sell the Syncova solution.
