Let us help you compete and win in today's chaotic marketplace. Sungard Availability Services | 52,268 followers on LinkedIn | Transforming IT for Resilient Business | Sungard Availability Services (“Sungard AS”) keeps your business running all day, every day. There will be no impact on customers, moving forward. Uncover why SunGard AS is the best company … The Inquirer asked Conde in 1999 why SunGard Data didn’t roll out its own trading services, selling directly to investors and traders, and eliminating the expense of the middlemen. “We suddenly found ourselves competing with much bigger environments at much greater scale.” Sungard couldn’t beat them, so it signed up as one of 130 Amazon-audited Managed Service Partners (MSPs) recruiting and customizing Amazon Web Services for corporate disaster-recovery customers, including, most recently, government agencies in England. SunGard Data Systems Inc. provides software and processing solutions to financial services industry in the United States and internationally. Sungard Availability Services was awarded the 2016 Stevie ® Great Employer Award in the Computer Services category. And, as you point, SunGard passed Sun Oil in market cap in the 1990s, when I was replaced by Jim Mann as CEO, who drove the company to a sale transaction of $11 billion cash.” The private-equity firms that bought SunGard, of course, “took out cash and loaded up debt and carved up the company. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries.
The buyers at first talked about boosting SunGard Data sales in part by But with its owners mostly concerned with pulling cash out of the company, it lost what its leaders admitted were a "I started what became SunGard in 1978 as a possible diversification strategy when I was responsible for IT functions at Sun Oil. We also use third-party cookies that help us analyze and understand how you use this website. “The venture investors got 20X their investment 40 months, with liquidity. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. "Even with this 70% reduction in debt, it is unclear how Sungard will generate profit in this sector after it emerges from bankruptcy.” The company, which employs 2,500, including 160 at its Philadelphia backup centers and 260 at its Wayne headquarters, expects to detail its plans in public statements Tuesday, and hopes to be in and out of bankruptcy with the approval of its creditors later this month. For updates and the latest news, visit FIS on LinkedIn or our website: FISGlobal.com. Acquisition propels FIS to a $9.3 billion company and uniquely positions it to … “But that change has taken time,” Stern added. Stern says Sungard Availabiility has been adapting to the new market: “Forty percent of our revenue comes from new services that didn’t exist eight years ago.” Sungard initially tried to meet rival remote-server “cloud”-based systems with its own “private cloud” solutions. FIS provides financial software, world-class services and global business solutions. Get the inside scoop on jobs, salaries, top office locations, and CEO insights. SunGard Financial Systems LLC provides software and information technology services. The buyout artists won’t go away broke: The company has sold its financial technology, college systems, and other units in recent years, raising more than $6 billion in equity and paying down at least $4 billion in debt.
Key facts. These cookies will be stored in your browser only with your consent. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company …