Conde: Post-LBO, SunGard Is Freer
VENDOR UPDATE
NEW YORK-As SunGard moves beyond the one-year anniversary of its $11.3 billion leveraged buyout (LBO) by seven private equity firms, CEO and president Cris Conde finds that SunGard is better able to focus on long-term investments without Wall Street watching over its shoulder-an assertion seconded by analysts.
In April 2005, SunGard announced plans to move from a public to private company. The resulting LBO left Silver Lake Partners, Bain Capital, The Blackstone Group, Goldman Sachs Capital
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