Advent's some 4,300 global clients include asset managers, hedge funds, fund administrators, prime brokers, family offices and wealth management advisory firms. The firm has around 1,200 employees and generated $397 million in revenues for the 12 months ended December 31, 2014.

The deal - confirmed in February 2015 - continues SS&C's growth strategy through acquisitions in the financial services software and software-enabled services industries, as demonstrated by 40 acquisitions to date including GlobeOp in 2012 and DST Global Solutions in 2014.

It is yet another example of industry consolidation, particularly in the technology sector. As previously reported by Family Wealth Report, Fidelity Investments is to buy eMoney Advisor for an undisclosed sum.