SunGard Data Systems

From MarketsWiki
Jump to: navigation, search
Tradeweb.jpg
SunGard Data Systems, Inc.
Sungard Logo.gif

FIS Logo Green.gif
Headquarters Wayne, Penn.
Key People Russ Fradin, President & CEO; Charles Neral, Chief Financial Officer
Employees More than 13,000
Products Software and processing solutions for financial services, higher education and the public sector
Twitter @SunGard
LinkedIn Profile
Facebook SunGard
Website www.sungard.com
Releases Company News

SunGard Data Systems Inc. is one of the world's largest privately held software and technology services companies. SunGard has more than 13,000 employees and serves 16,000 customers in 100 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. SunGard's annual revenue exceeds $2.8 billion.[1]

The company was acquired by Fidelity National Information Services (FIS), a large service provider for banks, in November of 2015. [2]

SunGard Financial Systems provides software and IT services to institutions in most segments of the financial services industry. The primary purpose of most of these systems is to automate the many specialized business processes associated with trading, managing investment portfolios and accounting for investment assets.

The services address a range of users within financial services, including asset managers, traders, custodians, compliance officers, treasurers, insurers, risk managers, hedge fund managers, plan administrators and clearing agents.

SunGard’s systems account for and manage more than $25 trillion in investment assets and process more than five million trades a day. SunGard also provides consulting services.[3]

An alliance of private equity firms bought the company in 2005 for nearly $11 billion. The firms are Bain Capital, the Blackstone Group, the buyout arm of Goldman Sachs, Kohlberg Kravis Roberts, Providence Equity Partners, Silver Lake and TPG Capital.[4]

SunGard launched its latest product for the derivatives market, Cliq, in 2010.

In June, 2012, the company partnered with the brokerage arm of Israeli exchange services firm, Migdal Capital Markets, to make their trading services and research expertise on the Israeli capital markets available via the SunGard Global Network (SGN). This move gives SunGard clients access to the Tel-Aviv Stock Exchange through Migdal's services. [5] The partnership intended to offer a low barrier of entry for investors to an Israeli economy that anticipates continued growth for years to come.[6]

In January of 2013, SunGard announced it had acquired XcitekSolutionsPlus, LLC (XSP), a provider of end-to-end, automated corporate actions solutions. The acquisition, the terms of which were not disclosed, was not expected to have a material impact on SunGard’s financial results.[7]

On June 4, 2015 SunGard filed with U.S. regulators for an initial public offering of its common stock with JP Morgan, Barclays and Goldman Sachs among the underwriters.[8] However, the company instead decided to sell itself to FIS. [9]

History

1982: SunGard formed as a spin-off of a division of Sun Oil Company.
1986: SunGard goes public.
2005: SunGard becomes a private company as a result of an LBO valued at $11.4 billion. Organized by Silver Lake, the investors in the LBO included Bain Capital Partners, The Blackstone Group, Goldman Sachs & Co., Kohlberg Kravis Roberts & Co., Providence Equity Partners and TPG.[10]
2008: SunGard completed the previously announced acquisition of a majority interest in GL Trade, a global financial software solutions company.[11]
2015: Sungard announces new IPO.[12]

Organization

SunGard consists of three divisions:[13]

Financial Systems
SunGard Financial Systems provides software and IT services to institutions in most segments of the financial services industry.

Higher Education
SunGard Higher Education provides software and support, systems implementation and integration, strategic consulting and technology management services to colleges and universities.

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 solutions.

Former division:

Availability Services
Sungard Availability Services (Sungard AS) is a provider of information availability solutions. In 1978, SunGard invented the business of disaster recovery, which has evolved into availability services. Sungard AS now offers a complete range of information availability solutions that include managed IT, professional and business continuity services. Sungard AS also has technology and systems management services for application and data center outsourcing, as well as business continuity consulting services and planning software. Sungard AS became an independent, separate company from SunGard on March 31, 2014 with annual revenue of approximately $1.4 billion.[14]

Products and Services

SunGard's products and services include:

Cliq
In 2010, SunGard launched Cliq, a web-based derivatives service that provides standardized electronic communication and collaboration between buy- and sell-side financial institutions involved in the post-trade life cycle of derivatives trading.[15]

Assent ATS
On June 22, 2009, SunGard launched Assent ATS, an alternative trading system that provides a "dark pool" (crossing network) for U.S. equities. Assent ATS is available through SunGard's Assent broker-dealer division.[16]

Aligne On April 29, 2009, SunGard launched Aligne, a multi-commodity suite of software services for energy trading, processing of transactions, risk management, and operational and financial decision making.[17] In October 2012, the company announced the extension of Aligne to help customers comply with the Dodd-Frank Act.

Ambit
In 2008, SunGard launched Ambit, a new brand and a new software strategy for its banking solutions for retail, commercial and private banks.[18]

John Lothian News Interviews

Customer Segregation: Keep It Separate
There has been much talk about protecting customer funds but keeping them in segregated accounts outside of the brokerage house. John Omahen, vice president of post trade derivatives solutions at SunGard, talks about the value in moving customer funds to a clearing house. Such segregation could help not only protect customer funds, but also could create lower financing costs. Published Jan. 29, 2013.[19]

Key People

  • Brian Traquair, Executive Vice President (retired at the end of 2016)

References

  1. SunGard. www.sungard.com.
  2. FIS Completes Acquisition of Sungard. Sungard.
  3. Media Book (PDF). www.sungard.com.
  4. Sungard Is Said to Be in Sale Talks With Fidelity. New York Times.
  5. Migdal adds SunGard. The Business Trading Technology Network.
  6. Migdal joins SunGard. Yahoo News.
  7. Press Release. SunGard.
  8. SunGard preparing for $750 million IPO. MarketWatch.
  9. FIS Completes Acquisition of Sungard. Sungard.
  10. About SunGard - History. SunGard.
  11. Press Release. FinExtra.
  12. Sungard Files Registration Statement for Proposed Initial Public Offering. Sungard.
  13. Homepage. SunGard.
  14. SunGard News. Sungard AS Press Release.
  15. Press Release. SunGard.
  16. SunGard Banks on Brass Users for New Dark Pool. Traders Magazine.
  17. SunGard Launches Integrated Solution Suite for Commodity Transaction and Risk Management. Press Release.
  18. Ambit Banking Solutions. SunGard.
  19. Customer Segregation: Keep It Separate. John Lothian News.