10:31 AM
Advent to Acquire Research Management Solution (RMS) Provider Tamale Software
Advent Software, a provider of software and services for the investment management industry, and Tamale Software, a vendor of research management solutions (RMS), has signed a definitive agreement under which Advent will acquire privately held Tamale Software. "We're thrilled to have Tamale's innovative technology and proven team on board as we enter the nascent and fast-growing RMS market," said Advent's Founder and CEO Stephanie DiMarco, in a press release. "We chose Tamale Software because, as the clear industry leader and a pioneer in the field of RMS, they bring unparalleled vision and a track record of success as we extend Advent's footprint in the front office with this powerful, game-changing productivity tool for our clients' investment teams," he said.
"Becoming part of the Advent team gives Tamale a tremendous opportunity to expand our global reach and bring the benefits of RMS to a much wider audience," said Tamale's president and CEO, Mark Rice, in the release. "We are excited to be joining forces with a proven leader that shares our commitment to innovation and driving success for our clients," he said. The Tamale management team and its employees, based primarily in New York, Boston and the UK, will join Advent, and will continue to develop, service and sell the Tamale solution.