SunGard Acquires DSPA Software Inc.
SunGard (http://www.sungard.com) today announced that it has acquired DSPA Software Inc., a leading supplier of sales compensation and distribution management software to the insurance industry. DSPA Software Inc. will become part of SunGardís insurance business (http://www.sungard.com/iWORKS). The transaction, the terms of which were not disclosed, is not expected to have a material impact on SunGardís financial results.
DSPA Software Inc. offers FASAT, a comprehensive distribution management and incentive compensation management (ICM) software solution for the life insurance industry. FASAT helps customers to manage evolving distribution channels, support growing product lines, and improve operational efficiencies. FASATís rule-based structure and flexible component definition helps insurance companies respond rapidly to new product and distribution initiatives by minimizing dependence on traditional system development. SunGard will continue to offer FASAT for use by life insurers and as a complementary solution to SunGardís range of existing applications serving the life insurance industry.
Scott Peart, president of DSPA, said, ďWe are pleased to be part of SunGardís insurance business and look forward to leveraging the companyís global resources, stability and strength to continue to grow FASAT.Ē
Greg Webber, president of SunGardís insurance business, said, ďFASAT adds a comprehensive distribution and ICM software solution to SunGardís iWORKS suite of solutions for the insurance industry. It extends the breadth of functionality we can offer to our customers.Ē
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