ACG Philadelphia Nominates SunGard for Outstanding Corporate Growth Award
The Association for Corporate Growth’s (ACG) Philadelphia Chapter has nominated SunGard for ACG’s Outstanding Corporate Growth Award, which will be announced at the ACG’s 37th annual InterGrowth Conference to be held on April 9 - 11, 2008 in Orlando, Florida. SunGard (http://www.sungard.com), one of the world’s leading software and IT services companies, employs more than 16,000 people worldwide, 2,500 of whom work in the Greater Philadelphia region. SunGard serves more than 25,000 customers in more than 50 countries, including the top 50 financial services companies.
ACG is a global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions. ACG originally created the Award for Outstanding Corporate Growth as a tribute to its founder and first president, Peter Hilton. As a creator, catalyst, author and businessman, Mr. Hilton was concerned with all aspects of corporate growth – from product innovations to acquisitions and divestitures to corporate diversification programs. The award honors organizations with revenue greater than $500 million that have shown sustained excellence in growth and financial performance.
SunGard was nominated for its track record of consistent growth. Over the past twenty years, its revenue has grown at a compound annual growth rate of more than 20%. Since its inception, a significant part of achieving its growth strategy has involved acquisitions. SunGard has acquired more than 160 businesses, with its largest transaction being the acquisition of Comdisco’s availability solutions business in 2001, valued at $850 million.
SunGard was formed in 1982 as a spin-off of the computer services division of Sun Oil Company. In 1986, SunGard went public and its stock was initially listed on NASDAQ and subsequently listed on the New York Stock Exchange. In August 2005, SunGard was taken private in a leveraged buy-out (LBO) valued at $11.4 billion. Organized by Silver Lake, the investors in the LBO included Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co., Providence Equity Partners and Texas Pacific Group. Going private has given SunGard the opportunity to focus more on the long term. In addition, SunGard has accelerated growth in Asia-Pacific with the acquisitions of Kingstar and System Access in 2006.
Richard Tarbox, senior vice president - Corporate Development at SunGard, said, “We are pleased to be recognized by ACG for our track record of corporate growth. SunGard has completed more than 160 acquisitions over the past 20 years and this ongoing corporate development program has contributed significantly to its long-term growth and success. Since SunGard’s inception, a key part of its strategy has been to acquire businesses that broaden its existing product and services offerings. SunGard has developed a highly disciplined due diligence program to evaluate, execute and integrate acquisitions. Generally, SunGard seeks to acquire businesses that provide complementary products and services, expand its customer base and geographic footprint, and strengthen its leadership positions.”
Founded in 1954, the Association for Corporate Growth (www.acg.org) is a global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions. Today ACG stands at more than 11,000 members from corporations, private equity, finance and professional service firms representing Fortune 1000, FTSE 100 and mid-market companies in 53 chapters in North America and Europe. http://chapters.acg.org/philadelphia/
With annual revenue exceeding $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard and the SunGard logo are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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