Sungard Announces Plans To Buy Shaw, Unveils Own Portfolio System


As expected (IMT Jan. 24), Pennsylvania-based SunGard Data Systems Inc. recently announced it had signed a letter of intent to purchase New York-based Shaw Data Services Inc. The move came as SunGard launched Global Securities Manager (GSM), an in-house portfolio management system that appears to compete with Shaw's new On-Site product.

A SunGard release says the company will pay $20 million immediately for Shaw Data and up to $15 million in additional cash payments based on the level of Shaw