SunGard has announced the completion of the acquisition of SunGard Data Systems by a consortium of private equity investment firms organized by Silver Lake Partners that also includes Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co, Providence Equity Partners and Texas Pacific Group. Under the terms of the merger agreement, the company’s stockholders are entitled to receive $36 per share in cash without interest. SunGard announced on 28 March 2005 a definitive agreement with the private equity consortium regarding the acquisition of the company for $11.4bn in cash. This transaction represents the largest technology privatization as well as the second largest leveraged buyout ever completed.
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.