SunGard Picks Up Finace
SunGard has reached a definitive agreement to acquire Finace from Swisscom IT Services.
The terms of the deal have not been disclosed, but the company will become a part of SunGard's capital markets business under president Brian Traquair. Inside that, it will specifically operate in the division's securities finance business unit, under Craig Costigan.
Finace will combine its securities finance and collateral management solutions with existing SunGard products, such as Apex, Astec, Global One, and Loanet.
"Securities finance requires specialist expertise," says SunGard's Traquir. "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."
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