SunGard, the integrated IT solutions provider, has launched an offer to acquire the shares of Guardian iT plc for 80 pence per share. The transaction values Guardian at approximately GBP 168 million ($240 million), inclusive of bank debt and finance lease obligations. The offer is subject to certain conditions, principally acceptance of the offer by Guardian’s shareholders and anti-competition clearance in the UK. Closing is expected to take place within 90 days. Guardian is expected to merge with SunGard Availability Services, which has approximately 8,000 information availability and business continuity clients.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.