| Computer Desktop Encyclopedia: SunGard |
(SunGard Data Systems Inc., Wayne, PA, www.sungard.com) A computer software and services company specializing in financial services, investment support systems and business continuity. SunGard was formed in 1983 from four subsidiaries of the Philadelphia-based Sun Company. Via numerous acquisitions, the company has expanded to a global corporation.
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| Type | Private |
|---|---|
| Founded | 1983 |
| Headquarters | Wayne, Pennsylvania, USA |
| Key people | Cristóbal I. Conde (CEO) |
| Industry | Information Technology |
| Products | Computer software Support services |
| Revenue | ▲ $ 5.596 Billion (2008) |
| Employees | 20,000 (2008) |
| Website | Sungard.com |
SunGard is a multinational company based in Wayne, Pennsylvania, which provides 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, during a period of low crude oil prices. The company has more than 25,000 customers in more than fifty countries. The name of the company originally was an initialism which stood for Sun Guaranteed Access to Recovered Data, a reference to the disaster recovery business it helped pioneer. SunGard ranked at 435 in Fortune 500 - 2009 list [1].
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SunGard provides software and processing for financial services, higher education and the public sector. It also provides continuity-assurance and production datacenter hosting services to enterprises of all types. SunGard is composed of four businesses - Availability Services, Financial Systems, Higher Education and Public Sector - that provide IT services and infrastructure, and software and processing.
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 GL Trade, MINT, TRAX, CARNOT AG, Front Arena, Martini, Monis, APT, Reech, VPM, Phase 3 Systems, Infinity, and Opus on the (primarily financial) software and processing side. SunGard has completed more than 150 acquisitions over the past 20 years.
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 & Co., Providence Equity Partners, and Texas Pacific Group.[2].
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
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