|Headquarters||Wayne, Pennsylvania, U.S.|
|Gary Norcross |
|Products|| Computer software |
Number of employees
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.
In August 2005 the company was acquired by seven private equity firms and de-listed from the NYSE.SunGard was one of the title sponsors of the Tinkoff pro cycling team until the end of 2011.
In August 2015, FIS announced that it had signed a definitive agreement to acquire SunGard.
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. [ citation needed ]SunGard had offices in many parts of the world outside of the United States including Paris, South Africa, Tunis, Stockholm, and the United Kingdom.
SunGard has historically grown by acquisition. Past mergers include 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.,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 has completed more than 150 acquisitions over the past 20 years.
Among the largest acquisitions were:
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.
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