|
|
|
|
|
Sungard Data SystemsSunGard Data Systems provides financial services and information availability services to businesses. 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. It is headquartered at Wayne, Pennsylvania. Its name stands for Sun Guaranteed Access to Recovered Data, a reference to the disaster recovery business it helped pioneer. The company's systems 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. As of March 2005, SunGard systems manage: - $15 trillion in investments worldwide;
- over five million daily trades by financial intermediaries; and
- approximately 70% of NASDAQ trade orders.
Its NYSE ticker symbol is SDS. On March 29, 2005 the company announced that a consortium of seven leading private equity investment firms will acquire the company in a transaction valued at $11.3 billion. The partners in the acquisition are Bain Capital, Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co., Providence Equity Partners, and Texas Pacific Group. Speculation in the press is that the company will be broken up. External links
|
 |
|
| Copyright 2005-2009 OnPedia.com. All Rights Reserved |
|
|