Sungard Availability Services

Last updated
Sungard Availability Services
Company typePrivately held
Industry
Founded1978
Headquarters Wayne, Pennsylvania, USA
Key people
Brett Diamond, CEO
ProductsIT Infrastructure, Private and Public Cloud, Disaster Recovery, Workplace Recovery, Consulting Services
OwnerAngelo, Gordon & Co., LP; The Carlyle Group Global Credit; FS Investments and GSO Capital Partners LP.
Number of employees
3,000
Parent Fidelity Information Services [1]
Website www.sungardas.com

Sungard Availability Services (Sungard AS) was a provider of IT production and recovery services. In 2021 it had annual revenues of approximately $773 million [2] and offices in 12 countries. [3] 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 [4] and workplace recovery facilities connected by a redundant, global dedicated network backbone. [5]

Contents

The company filed for Chapter 11 bankruptcy proceedings in April of 2022. In November of 2022 it concluded an agreement to sell the majority of its global assets to two competitors, 11:11 Systems and 365 Data Centers. After 40 years of operation, the company will wind-down North American operations in 2023 following the transition of its assets to 11:11 and 365.

History

SunGard Data Systems (SDS) is formed in 1983 through the leveraged buyout of a division of Sun Oil Company. In 1986, the SunGard Data Systems went public through an IPO and was listed on the NASDAQ as SNDT. In 1997 their listing shifted to the NYSE as SDS.

In 2001, SunGard acquired Comdisco’s [6] business continuity services extending the company’s reach to Europe. Additional acquisitions of Guardian IT [7] (2002) and Inflow [8] (2005), further extended the company’s reach.

In 2005, SDS was purchased in a transaction valued at $11.3 billion, by a team led by SilverLake. [9] Additional SDS acquisitions followed, including their 2007 purchase of Vericenter [10] to provide managed hosting and production availability and a 2010 acquisition of 365 Hosting Limited, [11] an Ireland-based hosted infrastructure provider of Managed Services and Cloud offerings.

On April 1, 2014, Sungard Availability Services split off from SunGard Data Systems, to become an independent company. [12]

In April 2019, Sungard AS announced it would file for Chapter 11 bankruptcy protection "as part of a consensual agreement with a majority of its creditors to reduce its nearly $1.3 billion debt by more than two-thirds." [13] [14]

On May 3, 2019, Sungard AS successfully completed its financial restructuring and emerged from its "prepackaged" Chapter 11.

On April 11, 2022, Sungard AS again filed for voluntary Chapter 11 reorganization, citing as reasons rising energy costs and the COVID-19 pandemic having caused organizations to shift to remote work. [15] [16]

On November 3, 2022 SungardAS concluded an agreement to sell the majority of its global assets to two competitors, 11:11 Systems and 365 Data Centers. With the agreements 90% of its staff and 12 of its data centers in North America will transition to the two companies, along with all North American client accounts. Following a transition period, the company will wind-down North American operations later in 2023 and continue to see the sale or disposal of its foreign subsidiaries.

Services

Sungard Availability Services offers IT production and recovery services that include IT infrastructure, Cloud computing, Disaster Recovery, and Workplace Recovery. Infrastructure services include traditional colocation which was enhanced with Megaport cloud connectivity in August [17] and September 2020. [18] Cloud services include public and private cloud services that leverage technologies from Dell Technologies, [18] VMware, and Amazon Web Services. [19]

Awards

In April 2019, Sungard Availability Services received the highest score for both the Strategy and Current offering categories among the eight vendors included in The Forrester Wave: Disaster-Recovery-As-A-Service Providers, Q2 2019. [20]

In June 2020, Sungard Availability Services was listed as a Contender in The Forrester Wave: Hosted Private Cloud Services In North America, Q2 2020 and The Forrester Wave: Hosted Private Cloud Services In Europe, Q2 2020. [21] [22] [23]

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References

  1. ↑ "Company History - About Us | FIS".
  2. ↑ "!Sungard Availability Services! | Revenue and Financial Reports". Hoovers. Retrieved 2015-09-24.
  3. ↑ "Sungard AS Global Offices". Sungard AS. Retrieved 2015-09-24.
  4. ↑ "Sungard Availability Services Data Centers" . Retrieved 21 April 2023.
  5. ↑ "Sungard Availability Services Overview". Sungard AS. Retrieved 2015-09-24.
  6. ↑ "SunGard completes Comdisco acquisition". Philadelphia Business Journal. Retrieved 2015-09-24.
  7. ↑ "SunGard says Guardian deal a go". Philadelphia Business Journal. Retrieved 2015-09-24.
  8. ↑ "Finextra news: SunGard Availability Services acquires Inflow". Finextra Research. 18 November 2004. Retrieved 2015-09-24.
  9. ↑ "Silver Lake leads purchase of SunGard". San Francisco Business Times. Retrieved 2015-09-24.
  10. ↑ "(PRN) SunGard Acquires VeriCenter". Houston Chronicle. 21 August 2007. Retrieved 2015-09-24.
  11. ↑ "SunGard Acquires Hosting 365" (Press release). Business Wire. Retrieved 2015-09-24.
  12. ↑ "SunGard splits in two". Philly.com. April 2014. Retrieved 2015-09-24.
  13. ↑ "Sungard AS to File for Chapter 11 Bankruptcy After 'Struggling Mightily'". 2 April 2019.
  14. ↑ "Private Equity-Backed Sungard Availability Files for Bankruptcy". Bloomberg.com. Bloomberg News. 2 May 2019. Retrieved 2020-05-10.
  15. ↑ "Sungard files second Chapter 11 bankruptcy | TechTarget".
  16. ↑ "Sungard Availability Services Takes Action to Strengthen Operating Cost Structure for Future Success".
  17. ↑ "Ecosystem Update". Megaport. 2020-08-11. Retrieved 2020-10-11.
  18. 1 2 "Ecosystem Update". Megaport. 2020-09-16. Retrieved 2020-10-11.
  19. ↑ Services, Sungard Availability. "Sungard Availability Services Makes Cloud Computing Easier with Managed Services for AWS". www.prnewswire.com (Press release). Retrieved 2020-10-11.
  20. ↑ Moore, Ben. "Sungard AS named DRaaS leader by Forrester". securitybrief.eu. Retrieved 2020-10-11.
  21. ↑ "A snapshot in time: The impact of the wave". www.sungardas.com. Retrieved 2020-10-11.
  22. ↑ "The Forrester Wave™: Hosted Private Cloud Services In North America, Q2 2020". www.forrester.com. Retrieved 2020-10-11.
  23. ↑ "The Forrester Wave™: Hosted Private Cloud Services In Europe, Q2 2020". www.forrester.com. Retrieved 2020-10-11.
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