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A day after Advent Software announced that it would buy Black Diamond Performance Reporting in a $73 million deal, the latter’s founder and chief executive officer Reed Colley, says its clients have made one thing clear: Do not change the culture of the firm.
The companies announced the deal on Thursday evening, so it is still fresh with its clients. They have not deluged Jacksonville, Fla.-based Black Diamond with questions, but they want it to stay true to itself, Colley said. The firm was founded in 2003.
“This is change, so it leads people to their darkest places,” Colley said in a telephone interview. Colley says he was convinced the deal was right after Black Diamond’s top officials met with Advent’s executive team during a due diligence session in March. Colley says he pictured the teams sitting at opposite sides of a table, perhaps with the Advent side peppering Black Diamond with questions....