SunGard surrenders to mega buy-out

Financial software and business continuity specialist SunGard Data Systems has agreed to a takeover by a group of private equity...

Financial software and business continuity specialist SunGard Data Systems has agreed to a takeover by a group of private equity investors for £6.27bn.

The investors include Silver Lake Partners, Bain Capital, the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co, Providence Equity Partners and Texas Pacific Group.

Announcing the takeover, the SunGard board confirmed it had dropped an earlier plan to spin off the company's business continuity services.

There are a number of distinct businesses within the group which could lend themselves to potential sell-offs by the new owners. Having borrowed heavily to acquire SunGard, the investors may embark on an aggressive re-organisation of the company to recoup their investment.

SunGard has over 20,000 customers in more than 50 countries, including the world's 50 largest financial services companies.

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