SunGard
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| Type | Private |
|---|---|
| Founded | 1983 |
| Headquarters |  Wayne, Pennsylvania |
| Key people | Cristóbal I. Conde (chief executive) |
| Industry | information technology |
| Products | software and support services |
| Revenue | ▲$5.596 Billion USD (2008) |
| Employees | 20000(2008) |
| Website | www.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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[edit] Business
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SunGard provides software and processing for financial services, higher education and the public sector. It also provides continuity-assurance services to information-dependent 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.
[edit] Availability Services
SunGard Availability Services is the pioneer of information availability solutions. In 1978, SunGard invented the business of disaster recovery[citation needed], which has evolved into availability services. SunGard now offers a range of information availability servicess that include managed IT, professional and business continuity services. SunGard also has technology and systems management services for application and data center outsourcing, as well as business continuity consulting services and planning software. SunGard offers help in identifying availability requirements, defining business continuity strategies and developing specialized software for data protection and related needs.
[edit] Financial Systems
SunGard Financial Systems provides software and IT services to institutions in many segments of the financial services industry. SunGard offers products for firms specializing in Alternative Investments, Banking, Benefit Administration, Brokerage & Clearance, Capital Markets & Investment Banking, Energy Trading & Risk Management, Institutional Asset Management, Insurance, Trading, Treasury Management and Wealth Management.
SunGard systems support the accounting and management of more than $25 trillion in invested assets and process more than 5 million trades each day.[citation needed]
[edit] Higher Education
SunGard Higher Education provides software and support, systems implementation and integration, strategic consulting, and technology management services to colleges and universities. The services include products for administration and recordkeeping, web portals, technology management services, and performance reporting and analytics. More than 1,600 institutions of higher education worldwide use products and services provided by SunGard to serve 10 million students.[citation needed]
[edit] Public Sector
SunGard Public Sector serves a wide range of customers - school districts, nonprofit organizations, and local, state and federal government agencies - with a range of specialized enterprise resource planning and administrative offerings for: Accounting, Human Resources, Payroll, Utility billing, Land Management, Public Safety & Criminal Justice and Grant & Project Management.
SunGard Public Sector products include local government, public safety and& justice, K-12 education, and system services solutions. These products affect more than 100 million citizens in North America and 50 million citizens in the UK.[citation needed]
[edit] Acquisitions
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, CARNOT AG, Front Arena, Martini, Monis, APT, Reech, 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.
[edit] Buyout
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.[citation needed]
[edit] References
- ^ "Fortune 500 2009: Full List 401-500". Fortune. 2009. http://money.cnn.com/magazines/fortune/fortune500/2009/full_list/401_500.html. Retrieved on 2009-04-19.
