ConvergEx Group ("ConvergEx"), a leading technology company, today announced that its parent company ConvergEx Holdings, LLC has signed a definitive agreement to be acquired by funds advised by CVC Capital Partners ("CVC") in an all cash transaction expected to close in the early autumn.

Upon close of the transaction, CVC will be the largest owner of the ConvergEx group of companies. The Bank of New York Mellon Corporation ("BNY Mellon") will remain as a minority shareholder. The existing ConvergEx management team, led by Chairman and Chief Executive Officer, Joseph Velli, will remain substantial shareholders and continue to manage the company.

ConvergEx was originally formed in 2006 by combining assets of BNY Mellon and Eze Castle Software. Since its formation, the company has expanded its businesses through a series of strategic acquisitions and organic growth. Today, its products and services include powerful, proprietary technologies for every stage of the investment life cycle across multiple asset classes. The company has over 1,200 employees in 22 locations worldwide and partners with more than 4,000 customers accessing over 100 global markets.

"ConvergEx is thrilled to have CVC join us as our majority investor and our new partner as we continue to build our world-class technology company," commented ConvergEx Chairman and CEO Joseph Velli. "We are also very pleased to be continuing our long-standing and highly productive relationship with BNY Mellon. Together, along with the ConvergEx management team, we see tremendous opportunities in our company's future and we are fully committed to growing our business even further."

"ConvergEx is a best-in-class software and technology provider to asset managers and financial intermediaries with strong positions across its broad portfolio of products and services. We are excited to partner with its highly regarded and exceptionally deep management team," said Kamil Salame, CVC Partner and Head of the U.S. Financial Institutions Group. "The company is well positioned to benefit from the continued growth of capital markets globally and, given CVC Financial Institutions Group's global resources and CVC's worldwide office network, we believe our partnership will be complementary. Furthermore, we welcome the continued ownership and cooperation of BNY Mellon during this exciting new phase of the company's growth."

"We have had a great period of growth since ConvergEx's inception. In fact, during the first six months of this year, both of our business segments posted strong results and we expect to see 20% year over year growth in 2011," said Velli. "Given that growth story, we were very pleased to be approached by CVC. We had a number of attractive offers and opportunities before us, but we believe that CVC will be the best partner in helping us accelerate our growth even more as we go forward."

ConvergEx's financial advisors for the transaction were Goldman, Sachs & Co., JPMorgan Chase & Co., Citigroup, Inc. and Barclays Capital PLC. Kirkland & Ellis, LLP and Schulte Roth & Zabel, LLP served as legal counsel.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC acted as financial advisors to CVC. CVC received legal advice from Weil, Gotshal & Manges LLP on the transaction.

Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc., affiliates of Morgan Stanley and Citigroup Global Markets Inc. provided fully committed financing to CVC.