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SunGard sold to private equity group

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Curve Equity Exposed Fund A syndicate of seven private equity investment banking firms have agreed to buy SunGard Data Systems for $11.3 billion, the largest buyout of a public company since 1989.

Viridian, the holding company for Northern Ireland's electricity, is in talks over a .62billion bid by Bahraini private equity firm Arcapita Bank.

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is wholly owned by Dimensional Associates, Inc., the private equity arm of JDS Capital Management, Inc.

Private Investment In Public March 28, 2005 (AXcess News) New York- A syndicate of seven private equity investment banking firms have agreed to buy SunGard Data Systems (NYSE: SDS) for $11.3 billion, the largest buyout of a public company since 1989.

Boston, MA – Fidelity Capital Investors (FCI), a private equity leveraged buyout group, announced that it has acquired a majority interest in Providence, based Avtek, Inc, a leading manufacturer and distributor of industrial and commercial connectivity products and solutions. The purchase was made in conjunction with members of Avtek’s senior management team who will remain with the company and continue to operate Avtek as an independent business unit. Capstone Partners LLC served as advisor to Avtek in the sale. Terms of the deal were not disclosed.

Equity Mutual Funds The deal is being led by Silver Lake Partners and the private equity groups members reads like the whose who of Wall Street. Private equity partners include The Blackstone Group, Bain Capital, Goldman Sachs Capital Partners, Providence Equity Partners, Texas Pacific Group, and Kohlberg Kravis Roberts & Co. L.P.KKR happens to be the private equity investment banking group that did the buyout of publicly held RJR Nabisco for $25 billion in 1989.

Birmingham Contact Equity SunGard shareholders are to be paid $36 in cash for each share they own. Which is a pretty good deal considering SunGard's shares closed Friday at $31.55. But by Monday, SunGard's shares had bolted 8.9%, or $2.81, to close at $34.36 on heavy volume of over 29 million shares.Outside of the common stock shareholders, there remains $500 million in outstanding bonds, which according to the terms of the agreement are not being purchased. AXcess News suspects that some of those bonds are already in the hands of the private equity buyout group or at the very least, whose terms are not worth calling.The board of directors of SunGard were quick to sign off on the deal, sources said, and the board was also urging shareholders to do the same. It's expected that the buyout of SunGard will be completed by the 3rd quarter of this year, the company said. It still must pass the muster of regulators, though the private equity partners are some of the most regulatory-savvy investment bankers on Wall Street, so few obstacles remain in their way.Prior to the buyout offer, SunGard was planning to spinoff its SunGard Availability Services business, which was announced in October. But the spinoff was called off as part of the deal with the private equity group, sources close to the deal said.

Private Equity Investment Firm SunGard operates in two areas, software and processing solutions, and managed hosting, storage solutions and disaster recovery.

Complying Deal Equity Funds Sources said that the management team is expected to remain in place.

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