SunGard
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| SunGard® Data Systems Inc. | |
|---|---|
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| Type | Private |
| Founded | 1983 |
| Headquarters | Wayne, Pennsylvania, USA |
| Key people | Cristóbal I. Conde (President/CEO) |
| Industry | Enterprise Software & IT Services |
| Products | Software & IT Services |
| Revenue | ▲$4.901 Billion USD (2007) |
| Employees | ~18000 (2007) |
| Website | www.sungard.com |
SunGard is a Fortune 500 company (ranked 472 as of 2008)[1] providing software and services to education, financial services and public sector organizations. It was formed in 1983, as a spin-off of a computer services division of Sun Oil Company, during a period of low crude oil prices. It is headquartered in Wayne, Pennsylvania and it serves more than 25,000 customers in more than 50 countries.
Its name stands for “Sun Guaranteed Access to Recovered Data”, a reference to the disaster recovery business it helped pioneer.
SunGard is comprised of four businesses - Availability Services, Financial Systems, Higher Education and Public Sector - that provide IT services, infrastructure, software and processing solutions. The company's software and processing solutions help execute stock market trades, perform risk management, and keep records for banks, investment managers, mutual funds, brokerage firms, and investment advisers. Its products also include wealth management systems, treasury management systems, and accounting systems for benefits and insurance.
SunGard has historically grown by acquisition. Past mergers include Comdisco Continuity Services, Guardian IT Services on the availability side, and Front Arena, Martini, Monis, APT, Reech, Phase 3 Systems, Infinity, FDP, and Opus on the (primarily financial) software and processing side. SunGard has completed more than 150 acquisitions over the past 20 years.
As of January 2007, SunGard systems manage more than $25 trillion in investment assets and process more than five million trades a day.
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 are Silver Lake Partners, Bain Capital, Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co., Providence Equity Partners, and Texas Pacific Group. There had been plans to separate the availability and processing businesses, but the new owners have not carried this forward.
[edit] References
- ^ Fortune 500 2008: Full List 401-500. Fortune (2008). Retrieved on 2008-04-21.
[edit] External links
- Company website
- Website for SunGard Higher Education
- Website for SunGard Public Sector
- SunGard Data Systems to be Acquired by Private Equity Group, from the company's website
