SunGard
American company / From Wikipedia, the free encyclopedia
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SunGard was an American multinational company based in Wayne, Pennsylvania, which provided software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services division of Sun Oil Company. The name of the company originally was an acronym which stood for Sun Guaranteed Access to Recovered Data, a reference to the disaster recovery business it helped pioneer. SunGard was ranked at 480th in the U.S. Fortune 500 list in the year 2012.[1]
Company type | Private |
---|---|
Industry | Information Technology |
Founded | 1983; 41 years ago (1983) |
Defunct | 2015 |
Fate | Acquired by FIS |
Headquarters | Wayne, Pennsylvania, U.S. |
Key people | Gary Norcross (CEO) |
Products | Computer software Support services |
Revenue | $4.991 billion (2011) |
Owner | FIS |
Number of employees | 13,000 (2014) |
In August 2005, the company was acquired by seven private equity firms for $11.3 billion and de-listed from the NYSE.[2] SunGard was one of the title sponsors of the Tinkoff pro cycling team until the end of 2011.[3]
In August 2015, FIS announced that it had signed a definitive agreement to acquire SunGard.[4][5]