PE-owned SunGard spins off availability services business
SunGard said Friday that it will spin off its availability services business on a tax-free basis to its stockholders, which include its private equity owners. SunGard's remaining businesses will be in financial systems, public sector and K-12 education. The transaction is expected to close as early as the end of the first quarter of 2014. Headquartered in Wayne, Penn., SunGard is a software and technology services firm. It is owned by consortium of private equity owners that include Bain Capital Partners, The Blackstone Group, Goldman Sachs, KKR, Providence Equity Partners, Silver Lake and TPG.
24 January 2014•3 mins read
