SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
Headquartered in Wayne, Pennsylvania, SunGard is comprised of four businesses - Availability Services, Financial Systems, Higher Education and Public Sector - that provide technology services and infrastructure, and software and processing solutions.
SunGard was formed in 1982 as a spin-off of a division of Sun Oil Company. Back in the 1970s, during a period of very low oil prices, many oil companies were diversifying their operations. Sun Oil started several businesses, including a computer services division that eventually became SunGard.
In 1986, SunGard went public and remained a public company until August of 2005 when it changed back to a private company as a result of an LBO valued at $11.4 billion. Organized by Silver Lake, the investors in the LBO included Bain Capital Partners, The Blackstone Group, Goldman Sachs & Co., Kohlberg Kravis Roberts & Co., Providence Equity Partners and Texas Pacific Group.