FIS Finalizes Acquisition of SunGard
The Jacksonville, Fla.-based giant will now have over 55,000 employees and $9.3 billion in revenue.
The completed deal means that FIS now has more than 55,000 employees and $9.3 billion in revenue.
The acquisition, which was first announced in August, was is reported to be funded with a combination of cash and stock that valued SunGard at $9.1 billion, including the assumption of its debt.
According to the announcement, FIS will repay SunGard’s existing debt today, excluding the firm’s senior notes, which will be redeemed on December 1.
“This acquisition creates one of the broadest sets of technology assets and market expertise in the industry, and allows FIS to present new opportunities to our existing client base as well as to financial services markets that we have not historically served.” said Gary Norcross, president and CEO of FIS, in a statement.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Propellant and Tradeweb expand partnership; NYSE data on Pyth, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
Data vendors are vagueposting about MCP prices
Exchanges and data providers are charging for AI access to their data. Nobody will say how much.
Goldman’s shift on AI highlights the gap between prototype and production
James Harrison expects more institutions will take AI tools away from their traders and bankers—and for good reasons.
Americans voted against datacenters. Datacenters may still win.
The Waters Wrap: The US midterms could spell trouble for datacenters but only if Dems put the screws to Big Tech, too, Reb writes.
AI for data quality control catches on at institutions
Data execs at banks and asset managers say they are working on projects using AI to improve data-quality workflows.
A Q&A with BofA’s Global Markets CIO on AI and problem-solving
Following the bank’s Global Markets Innovation Summit, Duncan McInnes says AI is helping his teams “reimagine” established processes and ask where technology can make them simpler and faster.
Compute is leaving land. Recoverability isn’t following.
The limits of land may push datacenters to the ocean or even outer space, writes Vishal Gupta. But these options introduce new challenges.
Who’s counting the agent army?
The Waters Wrap: Agents are growing faster than the controls to manage them. Wei-Shen says that as firms struggle to measure their returns on investment, it may come down to who foots the bill.
