SunGard back on M&A hunt
SunGard buys Strohl Systems Group of K of P, ending a 20-year neighborly competition and giving SunGard access to Strohl's long list of business-planning software clients.
SunGard's agreement to purchase Strohl Systems Group Inc. of King of Prussia marks the Wayne-based financial-software and recovery systems giant's first trip back to the acquisitions market since 2006, according to Bloomberg data. SunGard release here.
UPDATE 5/19: In fact, SunGard has continued to acquire all through that period, notes spokeswoman Valeria Maltoni. Last year alone, SunGard bought VeriCenter Inc. (IT infrastructure outsourcing), GTI Consultants SAS (IT consulting in France), Aspiren Group Ltd. (UK management consulting), Finitix LLC (hedge fund service provider), Energy Softworx (fuels management software), Aceva Technologies Inc. (debt collection software), Maxim Development Software Corp. (insurance billiong systems), and XRT SA's treasury and cash management business.
The Strohl deal - price undisclosed - which comes as Strohl was preparing to roll out a next-generation system, would also end 20 years of competition between Strohl's Living Disaster Recovery Planning System and what's now known as SunGard Availability Services. SunGard says it will support both platforms, and keep Strohl's programmers busy, while selling Strohl clients SunGard products. Strohl fact-sheet here.
Strohlmarks SunGard's first acquisition since the Automated Financial Systems deal in December 2006, according to the Bloomberg M&A database. SunGard bought two businesses in 2006, and five in 2005, the year it was taken private for $11 billion by a group of private equity firms.