PITTSBURGH & LUXEMBOURG--(BUSINESS WIRE)--Confluence, the industry’s leading provider of data management solutions, today announced the acquisition of Data Agent, a leading provider of alternative investment industry data management and reporting solutions. Already a proven provider of Form PF and Form CPO-PQR reporting solutions, Data Agent brings the experience and expertise to uniquely position Confluence to provide a data management and automated solution to solve the complex regulatory reporting demands of the Alternative Investment Management Fund Directive (AIFMD) as AIFMs across the globe are bracing to comply with the Directive that was transposed into national law in July of 2013.

“The synergies gained by combining the resources of our two companies will enable us to deliver even more robust solutions for our clients and the industry at large to meet the demands of the evolving global fund industry”

Confluence made the announcement as the company debuts its Unity NXT™ AIFMD Transparency Reporting solution at the ALFI Global Distribution Conference 2013 in Luxembourg.

Like Confluence, Data Agent delivers value to the market by mitigating risk and ensuring data integrity. Headquartered in Berkley, California, Data Agent has been providing data consolidation, decision-support solutions and reporting solutions to the alternative investment industry since 2003. Data Agent’s deep expertise in alternative investment data management and reporting will complement Confluence’s experience in data consolidation, process automation and reporting in the traditional investment management industry.

“The synergies gained by combining the resources of our two companies will enable us to deliver even more robust solutions for our clients and the industry at large to meet the demands of the evolving global fund industry,” says Mark Evans, Confluence Chairman, President and Chief Executive Officer. “This strategic acquisition strengthens our ability to deliver innovative solutions as the delineation between traditional and alternative investments converges and fund industry regulatory reporting requirements continue to become more globally intensive.”

The Unity NXT AIFMD Transparency Reporting solution is a technology-enabled reporting solution that will enable fund administrators and AIFMs to meet the requirements of this otherwise time-consuming reporting requirement while eliminating risks associated with manual processes and spreadsheets and ensuring data integrity.

About Confluence

For more than 20 years the global investment management industry has come to trust Confluence to deliver innovative solutions to take the risk out of fund administration. Helping investment management companies gain unprecedented control, Confluence automates every step of the fund administration process—including the collection, creation, confirmation and delivery of investment product data. Results are lower costs, reduced risk, decreased reporting turnaround times and the scalability to automate more processes without additional resources.

Confluence solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of U.S. mutual funds. From the Confluence traditional install, hosted and outsourced Unity® platform solutions to our enterprise-grade SaaS enabled Unity NXT platform, Confluence automates critical fund administration and reporting processes—such as regulatory reporting, financial statement preparation and performance reporting. Confluence solutions support a wide array of collective fund investment types – including European domiciled UCITS, alternative investments, traditional U.S. based ’40 ACT mutual funds, and contemporary fund structures such as ETFs.

Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with key locations in San Francisco, CA, London and Luxembourg. For more information, visit www.confluence.com.