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

Related Research Articles

<span class="mw-page-title-main">Blackstone Inc.</span> American alternative investment company

Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe. Blackstone is also active in credit, infrastructure, hedge funds, secondaries, growth equity, and insurance solutions. As of May 2024, Blackstone has more than US$1 trillion in total assets under management, making it the largest alternative investment firm globally.

<span class="mw-page-title-main">Intuit</span> American financial software company

Intuit Inc. is an American multinational business software company that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi. Intuit's products include the tax preparation application TurboTax, the small business accounting program QuickBooks, the credit monitoring and personal accounting service Credit Karma, and email marketing platform Mailchimp. As of 2019, more than 95% of its revenues and earnings come from its activities within the United States.

<span class="mw-page-title-main">Fiserv</span> Provider of financial services technology to banks

Fiserv, Inc. is an American multinational company headquartered in Milwaukee, Wisconsin. Fiserv provides financial technology and services to clients across the financial services sector, including banks, thrifts, credit unions, securities broker dealers, mortgage, insurance, leasing and finance companies, and retailers.

<span class="mw-page-title-main">Ken Kendrick</span> American baseball executive

Earl Gentry "Ken" Kendrick, Jr. is an American billionaire businessman who is the principal owner and managing general partner of the National League's Arizona Diamondbacks. He became part-owner with the team's inception in 1995. He has been managing general partner since 2004, overseeing day-to-day operations and acting as the organization’s designated representative when the Major League Baseball owners convene.

<span class="mw-page-title-main">Intercontinental Exchange</span> American exchange and clearing house company

Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange; equity options exchanges; and OTC energy, credit, and equity markets.

<span class="mw-page-title-main">FIS (company)</span> American information technology company

Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech, and as of Q2 2024 it offers its solutions in two primary segments: Banking Solutions & Capital Market Solutions. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.

Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995, headquartered in Beverly Hills, California. The firm focuses on leveraged buyout investments of established companies in the U.S., Europe and Asia.

FAME is a time series database released in 1981 and owned by FIS Global.

<span class="mw-page-title-main">Welsh, Carson, Anderson & Stowe</span> American private equity firm

Welsh, Carson, Anderson & Stowe (WCAS), also referred to as Welsh Carson, is a private equity firm. WCAS was formed in 1979 and focuses on investing the industries of technology and healthcare, primarily in the United States. WCAS has a current portfolio of approximately 30 companies and has organized 17 limited partnerships with total capital of over $27 billion, consisting of 13 equity partnerships and four subordinated debt partnerships. WCAS is currently investing equity funds, including WCAS XII, L.P. and WCAS XIII, L.P.

<span class="mw-page-title-main">TIBCO Software</span> American enterprise software company

TIBCO Software Inc. is a business unit of Cloud Software Group that provides enterprise software. It has headquarters in Palo Alto and offices in North America, Europe, Asia, the Middle East, Africa and South America.

Datatel, Inc. was a private company that provided fully integrated software and professional services to build enterprise education platforms for higher education until it combined with its competitor SunGard Higher Education to form Ellucian in 2012. Datatel was headquartered in Fairfax, Virginia.

Worldpay Group plc was a payment processing company. It was formerly listed on the London Stock Exchange until 16 January 2018 when it was acquired by Vantiv. The combined company then took the name Worldpay, Inc. Worldpay, Inc. was acquired by FIS in July 2019 for $43 billion. In 2024, private-equity firm GTCR acquired a majority 55% equity interest in WorldPay.

<span class="mw-page-title-main">Sungard Availability Services</span>

Sungard Availability Services (Sungard AS) was a provider of IT production and recovery services. In 2021 it had annual revenues of approximately $773 million and offices in 12 countries. The company used its experience in recovery to design, build and run production environments that are resilient and available. At its peak, with 1,500 IT and business professionals, the company manages 20 mobile facilities staged in strategic locations and 75 hardened data centers and workplace recovery facilities connected by a redundant, global dedicated network backbone.

GL Trade was a French provider of financial order management and trading systems that covered front office, middle office and back office used by international financial institutions. Its main products were real-time market data and trading systems ; a major part of its success was the GL NET private network linking up exchanges all over the world with thousands of brokers and traders. The company was purchased by SunGard in 2009 and the system was renamed as SunGard Global Trading.

<span class="mw-page-title-main">Verisk Analytics</span> American data analytics and risk assessment firm

Verisk Analytics, Inc. is an American multinational data analytics and risk assessment firm based in Jersey City, New Jersey, with customers in insurance, natural resources, financial services, government, and risk management sectors. The company uses proprietary data sets and industry expertise to provide predictive analytics and decision support consultations in areas including fraud prevention, actuarial science, insurance coverage, fire protection, catastrophe and weather risk, and data management.

<span class="mw-page-title-main">Worldpay, Inc.</span> American payment processing company

Worldpay is an American multinational financial technology company and payment processing company. Worldpay provides payment and technology services to merchants and financial institutions globally generating 40 billion transactions across 146 countries and 135 currencies.

<span class="mw-page-title-main">Sapiens International Corporation</span> Israeli software company

Sapiens International Corporation N.V. is a publicly traded company, headquartered in Israel, that develops computer software for the insurance industry.

<span class="mw-page-title-main">Zendesk</span> American customer service software company

Zendesk, Inc. is a Danish-American company headquartered in San Francisco, California. It provides software-as-a-service products related to customer support, sales, and other customer communications. The company was founded in Copenhagen, Denmark, in 2007. Zendesk raised about $86 million in venture capital investments before going public in 2014.

Veritas Technologies LLC is an American international data management company headquartered in Santa Clara, California. The company has its origins in Tolerant Systems, founded in 1983 and later renamed Veritas Software. It specializes in storage management software including the first commercial journaling file system, VxFS, VxVM, VCS, the personal/small office backup software Backup Exec and the enterprise backup software, NetBackup. Veritas Record Now was an early CD recording software.

<span class="mw-page-title-main">TOTVS</span> Brazilian software company

TOTVS S.A. is a Brazilian software company headquartered in São Paulo. It has 70,000 clients of diverse sizes operating in 12 sectors of the Brazilian economy: Agribusiness, Logistics, Manufacturing, Distribution, Retail, Services, Education, Hospitality, Legal, Construction, Health and Financial Services. According to FGV, TOTVS is the market leader in management software in Brazil.

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. ↑ "SUNGARD COMPLETES SPLIT-OFF OF ITS AVAILABILITY SERVICES BUSINESS". sungard.com. April 1, 2014. Archived from the original on 2014-07-02.
  20. ↑ Gaus, Annie (2019-01-17). "Fiserv and First Data Megadeal Could Drive More Fintech M&A". TheStreet. Retrieved 2024-05-30.
  21. ↑ "SunGard Public Sector is Now Superion". prnewswire.com. 2017-04-20. Retrieved 2017-07-16.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.