FIS to Buy SunGard For $9.1 Billion

The two companies will have over $9.2 billion in combined annual revenues.

philadelphia-1
SunGard is based in Wayne, Pa., near Philadelphia (above).

FIS will acquire 100 percent of the equity of the Wayne, Pa.-based company for a combination of cash and stock that values the company at $9.1 billion, including the assumption of its debt, which FIS said it plans to refinance. The two companies will have over $9.2 billion in combined annual revenues.

"By bringing together two innovative companies with common business models, similar cultures, strong leadership and complementary solutions, we are enhancing our ability to empower our clients and deepen client relationships through an expanded full-service offering," said Gary Norcross, president and chief executive officer of FIS, in a statement. "Our focus has always been on championing the needs of our clients and we are excited about the opportunities this combination provides to further deliver on that commitment."

SunGard — once a publicly-listed company and, for the last decade, a joint property of several private equity houses under a unique 'club' agreement — has an annual revenue of $2.8 billion and 13,000 employees.

The club members were rumored to be preparing an IPO before FIS stepped in. The newly-combined entity will have more than 55,000 employees and clients in over 100 countries.

Bank of American Merrill Lynch and Centerview Partners were the financial advisors to FIS in the transaction. Goldman Sachs, JP Morgan, Barclays, Deutsche Bank and Credit Suisse were financial advisors to SunGard.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Data catalog competition heats up as spending cools

Data catalogs represent a big step toward a shopping experience in the style of Amazon.com or iTunes for market data management and procurement. Here, we take a look at the key players in this space, old and new.

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here