Banking and payments technology provider Fidelity National Information Services (FIS) announced this week that it has agreed to acquire financial products and services giant SunGard for $9.1 billion, according to FIS officials. The deal means that SunGard will not be facing an initial public offering (IPO) as some had speculated. The acquisition also means the… Read More >>
No IPO as FIS to Pay $9 Billion for SunGard
Financial products and services giant SunGard will not be facing an IPO as some had speculated as banking and payments technology provider Fidelity National Information Services (FIS) will be acquiring the Wayne, Pa.-based company for $9.1 billion, according to FIS officials. FIS officials add that the combined company will have more than $9.2 billion in… Read More >>
Virtus Partners Puts SunGard Wares at the Core of New Service
Service provider Virtus Partners recently launched a hedge fund administration service that uses SunGard’s VPM and Hedge360 solutions, a development Vsays is the result of opportunities created by a shake-up in the fund administration space. Virtus Partners provides fixed-income collateral administrative services and data on structured and non-structured transactions for a variety of investment vehicles,… Read More >>
Questions Remain Ahead of SunGard IPO
Investor appetite for FinTech giant SunGard’s recently announced initial public offering (IPO) remains unclear at this point, but solid products and a good position within the market could prove to be bright spots, according to a new report. Recently released by FinTech-focused investment bank FTPartners, “Transaction Profile: SunGard Files for its IPO,” highlights many of… Read More >>
SunGard Launches Utility for OTC Clearing
Financial technology and services giant SunGard has launched its Post-Trade Derivatives Utility with Barclays as its anchor customer and is targeting futures commission merchants (FCMs) that need alternative services support, officials say. SunGard’s utility offers support for derivatives clearing operations and technology services for trade clearing, trade lifecycle management, margin processing, brokerage, reconciliation, data management… Read More >>
SunGard Opens Fourth Office in Africa
Financial software and systems vendor SunGard is expanding its footprint in the Africa yet again, with the opening of a new office in Kenya, the vendor’s fourth office on the continent, officials say. “By investing in and establishing a physical presence in Kenya, widely regarded as the financial services hub for East Africa,” SunGard says… Read More >>
IPO Could Streamline SunGard, Sources Say
Initial reactions among key industry sources about media reports that SunGard will be returning to the public arena are positive, with sources saying that the scrutiny from new investors will streamline the FinTech giant and make it more agile in response to the needs of its customers. The Wall Street Journal reported yesterday that SunGard… Read More >>
SunGard Said to Explore a Second IPO: Reuters
SunGard is apparently making the rounds at investment banks, looking for an adviser to help take the financial technology vendor go public soon, according to a report by the Reuters news service. SunGard could be valued at up to $10 billion and will be interviewing investment bankers as early as next week, according to Reuters,… Read More >>
SunGard Adds to U.S. Transfer Agency Services
SunGard reports the expansion of its transfer-agency capabilities with the addition of an “industry utility offering to its managed services suite,” according to a statement, which calls the “key catalyst” for the expansion SunGard’s “acquisition of the U.S. long funds transfer agency business from Citibank, N.A. – a transition of shareholder servicing responsibilities that reflects… Read More >>
Vendors Start to Apply Big Data Techniques to Ops
Everyone seems to be talking about Big Data, but what are financial firms and vendors actually doing when it comes to this buzzword-cum-groundbreaking technology? Earlier this week, FTF News examined how Big Data is being used by the Ops sector of the financial services industry, broadly speaking. But what about specifics? While that piece noted… Read More >>
