SunGard

Last updated
SunGard Data Systems
Company type Private
Industry Information Technology
Founded1983;41 years ago (1983)
Defunct2015
FateAcquired by FIS
Headquarters Wayne, Pennsylvania, U.S.
Key people
Gary Norcross
(CEO)
Products Computer software
Support services
RevenueDecrease2.svg $4.991 billion (2011)
Owner FIS
Number of employees
13,000 (2014)

SunGard was an American multinational company based in Wayne, Pennsylvania, which provided software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services division of Sun Oil Company. The name of the company originally was an acronym which stood for Sun Guaranteed Access to Recovered Data, a reference to the disaster recovery business it helped pioneer. SunGard was ranked at 480th in the U.S. Fortune 500 list in the year 2012. [1]

Contents

In August 2005, the company was acquired by seven private equity firms for $11.3 billion and de-listed from the NYSE. [2] SunGard was one of the title sponsors of the Tinkoff pro cycling team until the end of 2011. [3]

In August 2015, FIS announced that it had signed a definitive agreement to acquire SunGard. [4] [5]

Business

SunGard provided software and processing for financial services, K-12 and Higher Education, and the public sector. It also provided continuity-assurance and production data center hosting services, now part of SunGard AS. [6] SunGard had offices in many parts of the world outside of the United States including Paris, South Africa, Tunis, Stockholm, and the United Kingdom.[ citation needed ]

Acquisitions

SunGard historically grew by acquisition. Past mergers included Performance Pathways, Vericenter, InFlow, Strohl Systems, Comdisco Continuity Services, and Guardian iT PLC on the availability side, Systems & Computer Technology Corp. (SCT) on the higher education side, and Kiodex. Inc., [7] GL Trade, Oshap (Mint, Decalog), TRAX, Carnot AG, Front Capital Systems (Front Arena), Martini, Monis, APT, Dyatron, Reech, VPM, Phase 3 Systems, Infinity, Microhedge, Reconciliation, Automated Securities Clearance India, Opus Renaissance Software Inc., and National Computer Systems Financial Systems Division on the (primarily financial) software and processing side. SunGard completed more than 150 acquisitions over 20 years.

Among the largest acquisitions were:

Leveraged buyout 2005

Formerly listed on the NYSE (ticker symbol SDS) on August 11, 2005, the company was acquired by a consortium of seven private equity investment firms in a transaction valued at $11.3 billion. The partners in the acquisition were Silver Lake Partners, Bain Capital, Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and TPG Capital. [14]

De-merger activities

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References

  1. "Fortune 500 2012: Fortune 1000 Companies 401-500". CNN.
  2. "Financial software maker SunGard files for IPO". Reuters. 4 June 2015. Retrieved 1 March 2021.
  3. "Nyheder fra". Borsen.dk. Archived from the original on 2011-12-19. Retrieved 2012-03-29.
  4. "FIS to Acquire SunGard, Deepens Enterprise Banking and Capital Markets Solutions". FIS Global. Retrieved 2015-08-12.
  5. Dezember, Ryan (2015-08-12). "FIS to Buy SunGard for $5.1 Billion". Wall Street Journal. ISSN   0099-9660 . Retrieved 2018-06-04.
  6. 1 2 "Leadership | Sungard AS".
  7. "SunGard Trading and Risk Systems Acquires Kiodex for ASP-Based Commodity Risk Management and Data Services". 7 September 2004.
  8. "SunGard Data to acquire Infinity Financial". The New York Times. 1997-10-18. Retrieved 2008-02-04.
  9. "SunGard buys Israel's Oshap". Financial News. 15 Mar 1999.
  10. Schoenberg, Tom (2011-08-31). "AT&T Suit Follows Antitrust Tactics With Oracle, H&R Block". Bloomberg.
  11. "SunGard completes SCT acquisition". bizjournals.com. 2004-02-12. Retrieved 2012-01-23.
  12. "SunGard Completes Acquisition of Majority Interest in GL Trade". www.sungard.com. 2008-10-01. Retrieved 2011-09-01.
  13. "SunGard Acquires Hosting 365" . Retrieved 2018-10-01.
  14. "SunGard bought by group for $11.3 billion". www.nytimes.com. 2005-03-29. Retrieved 2012-01-03.
  15. "Capita acquires SunGard Public Sector Ltd". www.capita.co.uk. 2010-12-23. Retrieved 2012-02-14.
  16. "Capita Secure Information Solutions Website".
  17. "Datatel and SunGard Higher Education Combination Clears Regulatory Review". www.sungard.com. 2011-12-07. Retrieved 2011-12-11.
  18. "SunGard Announces Second Quarter 2011 Results". www.sungard.com. 2011-07-28. Retrieved 2011-09-01.
  19. http://www.sungard.com/about-us/news/corporate04012014
  20. https://www.thestreet.com/technology/fiserv-first-data-merger-fintech-consolidation-14836844, FIS to Acquire SunGard
  21. "SunGard Public Sector is Now Superion". prnewswire.com. 2017-04-20. Retrieved 2017-07-16.