Confluence (company) explained

Confluence
Type:Private
Location:Pittsburgh, Pennsylvania
Industry:Fund administration
Software
Key People:Mark Evans
Chris Evans
Frederick Winston
Todd Moyer
Foundation:1991
Homepage:confluence.com

Confluence (Confluence Technologies) is a software firm that provides back-office automation systems to the investment management industry.[1] The company was founded in 1991, and aims to lead the "DataTech evolution" with "a vision ... [of] instantaneously transforming data into knowledge and delivering it to the world."[2] According to the company's website, Confluence technology is in use by eight of the top 10 global serviceproviders, and all of the top 10 global asset managers have business processes automated through Confluence.[3]

Confluence is headquartered in Pittsburgh, Pennsylvania. In 2017 it moved into new headquarters in Nova Place, located in Pittsburgh's Allegheny Center neighborhood.[4] Confluence lists other international locations in Cape Town, Frankfurt, Ho Chi Minh City, London, Luxembourg, Milan, Montreal, Paris, Sydney and Toronto.

Confluence was founded in 1991 by Mike Schiller and Mark Evans. Schiller left the company in 1997 and Evans currently serves as Chairman, CEO and President of the company.[5]

Confluence is privately owned. In 2018, TA Associates completed a majority investment in Confluence. As part of the transaction, Polaris Venture Partners sold its stake in the company.[6]

Products and services

The Confluence platform features regulatory reporting, investor communications, and performance and analytics solutions and supports a wide array offund types – including mutual funds, ETFs, alternative investments, institutional portfolios and UCITS funds.

Partnerships

Growth and acquisitions

Confluence acquired California-based data management company, Data Agent, an alternative investment industry data and reporting solutions leader, in 2013.[9]

In December 2014, Confluence announced the acquisition of Belgium-based data solutions provider, Orfival, increasing the breadth of Confluence offerings with new capability in performance risk analytics and attribution.[10]

In October 2019, Confluence acquired UK portfolio analytics company StatPro for £161.1 million.[11]

Awards and recognition

In 2016 and 2017, Confluence won the "Best Use of Agile Methodology" at the American Financial Technology Awards (AFTAs).[12] [13]

In 2017, Confluence was awarded the "Best Data Management Solution" at the 2017 Mutual Fund Service and Technology Awards.[14]

References

  1. Web site: Confluence Technologies Inc. Company profile from Hoover's 412-802-8632 . Hoovers.com . 2010-10-21 . 2011-10-23.
  2. Web site: About Confluence. Confluence Technologies . 2018-10-29 . 2018-10-29.
  3. Web site: About Confluence. Confluence Technologies . 2018-10-29 . 2018-10-29.
  4. Web site: North Side-based Confluence moving to Nova Place . Trib Total Media. 2016-04-16 . 2018-07-22.
  5. News: Data manager Confluence opens West Coast office - San Francisco Business Times . Bizjournals.com . 2011-06-03. 2011-10-23 . Mark . Calvey.
  6. Web site: TA Associates Announces Majority Investment in Confluence. www.ta.com/. TA Associates. 2018-07-22.
  7. Web site: MSCI and Confluence Help Investors Streamline SEC N-PORT Regulatory Reporting Requirements . finance.yahoo.com . dead . https://web.archive.org/web/20181105202942/https://finance.yahoo.com/news/msci-confluence-help-investors-streamline-130000386.html . 2018-11-05.
  8. http://iss-mag.com/2018/02/confluence-partners-with-ice-data-services/
  9. Web site: Gough. Paul. Digital Producer. www.bizjournals.com. Pittsburgh Business Times. 2013-09-12.
  10. Web site: Rundle. James. Confluence Acquires Risk Analytics Provider Orfival. www.waterstechnology.com. December 2014. Waters Technology. 2014-12-01.
  11. Web site: Confluence buys StatPro for £161.1 million. 2019-10-29. Finextra Research. en. 2020-04-07.
  12. Web site: Winners - American Financial Technology Awards . 2018-11-05 . https://web.archive.org/web/20180204115939/http://www.aftas.org/static/winners . 2018-02-04 . dead .
  13. Web site: AFTAs 2017: Best Use of the Agile Methodology—Confluence. 12 January 2018.
  14. Web site: Confluence Wins "Best Data Management Solution" at 2017 Mutual Fund Service and Technology Awards | Good StockInvest . 2018-11-05 . https://web.archive.org/web/20180219225446/https://good-stockinvest.com/2017/10/10/confluence-wins-best-data-management-solution-at-2017-mutual-fund-service-and-technology-awards/ . 2018-02-19 . dead .

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