NEW YORK, NY and Dublin, Ireland – December 5, 2006 – Paladyne Systems, LLC today announced that it has licensed its PALADYNE™ product suite to Quintillion, a global provider of fund administration, middle- and back-office outsourcing, and technology services to the hedge fund industry. Quintillion has integrated PALADYNE’s front- and middle-office software with their existing portfolio accounting system, Advent Geneva® to streamline operations and to significantly expand their technology and client service offering.
Quintillion has implemented the PALADYNE ASP™ solution, a fully-hosted offering including software, hardware, database maintenance, IT and disaster recovery services. Paladyne’s hosted platform may be accessed remotely from each of Quintillion’s global office locations and is fully-integrated with Quintillion’s local installation of Advent Geneva® in Dublin. By leveraging PALADYNE ASP, Quintillion may expand its service offering by providing direct client access to Paladyne’s front- and middle-office tools including order management, real-time P&L and portfolio management, data warehousing, custom reporting, and performance analysis.
“In order to realize our vision of streamlined middle- and back-office administration and technology services, we needed to complement our Advent Geneva® software with PALADYNE’s integrated suite of products,” said Joan Kehoe, Chief Executive Officer of Quintillion. “We plan to grow our business significantly and with the Paladyne partnership, we now have tremendous scalability and flexibility to expand the scope of our services and provide technology infrastructure directly to our customers.”
“We are excited to partner with experienced industry veterans that understand the challenges facing fund administrators today,” said Sameer Shalaby, Chief Executive Officer of Paladyne Systems. “We are confident that Quintillion has the right team, business model, and investor support to execute on their vision of becoming a leading global fund administrator. We are excited that our product suite is an integral part of Quintillion’s infrastructure enabling them to service hedge funds of any size and complexity, from start-up funds to multi-strategy global institutions,” he said.
Paladyne and Quintillion are working together to integrate their product offerings and expect to have clients in production by year-end.
About Quintillion
Quintillion (www.quintillion.ie) opened in 2006 as an independently operated fund administration company based in Dublin’s IFSC. Quintillion was founded by a number of industry veterans to revolutionize the administration industry with world class service and leading edge technology solutions.
