SunGard Acquires FINACE

ZURICH, Sept. 1, 2011 /PRNewswire/ -- SunGard has completed the acquisition of FINACE, a provider of securities lending and collateral management software, from Swisscom IT Services, part of leading Swiss telecommunications group Swisscom. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results.

FINACE offers a combination of solutions and specialist knowledge for securities finance and collateral management operations. Its offering will complement SunGard's existing portfolio of securities finance solutions, including Apex, Astec, Global One and Loanet. The FINACE solution suite also has proven strengths in private bank lending which will enhance SunGard's offerings to European regional and private banks.

FINACE will become part of SunGard's capital markets business, led by Brian Traquair, where it will operate within the securities finance business unit headed by Craig Costigan. FINACE's management team, led by managing director Igor Salzgeber, will continue in their current roles.

Brian Traquair, president of SunGard's capital markets business, said, "Securities finance requires specialist expertise. The FINACE team has a strong reputation in this area, and its skills and solutions will help us enhance our existing offering and create new, compelling propositions for our customers. We look forward to integrating our strategies and bringing our teams together."

About SunGard's Solutions for Capital Markets

SunGard's solutions for capital markets help financial institutions improve efficiency, transparency and global connectivity. With a complete set of multi-asset and multi-market solutions for the front- middle- and back- offices, SunGard supports the entire trade life cycle, offering access to more than 130 markets worldwide. SunGard's high performance solutions cover risk management, order management and execution, post-trade services, position management, market data, enterprise data management, securities finance, tax reporting and compliance.

About SunGard

SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit www.sungard.com.

Trademark Information: SunGard, the SunGard logo, Apex, Astec, Global One and Loanet are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries.  All other trade names are trademarks or registered trademarks of their respective holders.

For more information, please contact:
Adriana Senior, VP, Media Relations
SunGard Financial Systems
Tel: +1 718 578 1130
Email: [email protected]  

SOURCE SunGard