SunGard to Acquire VeriCenter

SunGard announced that it has reached a definitive agreement to acquire VeriCenter

July 17, 2007

1 Min Read
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WAYNE, Pa. -- SunGard (http://www.sungard.com) today announced that it has reached a definitive agreement to acquire VeriCenter, Inc., a provider of managed hosting, colocation, and infrastructure services. VeriCenter will become part of SunGard Availability Services, the pioneer and leading provider of information availability and business continuity services. The transaction, the terms of which were not disclosed, is not expected to have a material impact on SunGards financial results.

The addition of VeriCenter increases SunGard’s economies of scale. It also broadens SunGard’s service offerings that combine dedicated and shared resources tailored to specific customer information availability needs. The VeriCenter resources complement SunGard’s business continuity and production hosting solutions that maximize the availability of networks, systems, data and applications.

"Companies have a decreasing tolerance for IT system downtime to avoid business disruptions, and budgetary pressures require them to look for vendors that can increase IT availability in a cost-effective way," said Ted Gaasche, chief executive officer of SunGard Availability Services. "The powerful blend of SunGard’s deep portfolio of information availability services, VeriCenter’s strong facility footprint and the world class expertise of our combined team will further enhance the ability to help protect customers’ mission-critical people, systems and applications."

SunGard

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