SunGard tops list of bidders for Misys: sources
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U.S. software firms SunGard Data Systems  and Fiserv Inc  top the list of suitors expected to  submit bids for UK software company Misys by a deadline set for  later this week, sources close to the matter said on Monday.
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Sun Life Financial, a Canadian insurer, hired investment bankers to consider a possible sale of its United States money-management unit, which has had $16 billion withdrawn from its funds over four years. Sun Life did not disclose the name of the investment bankers. Sun Life, based in Toronto, said there was no assurance a transaction would result. MFS has lost $3.7 billion in mutual fund shareholder withdrawals this year through July 31, according to the Boston consulting firm Financial Research Corporation.
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SunGard Data Systems Inc. (SDS.N: Quote, Profile, Research) on Monday said it would spin off its data recovery business, sending its stock up 11 percent to a four-month high.
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Sources close to the vendor say an intense, high-level debate continues about Sun&#39;s open-source Solaris plans, which were first announced in June.
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Westfield Group and Multiplex Group today announced they had agreed on a cash offer for UK property holding company Duelguide of Â£585 million ($1.
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Private equity fund Sun Capital  Partners is considering a renewed bid to take over clothing  brand company Kellwood Co.  with a hostile conditional  tender offer, The New York Post reported on Thursday.
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(InfoWorld) - IT distributor Agilysys Inc. continued its strategy of growing by acquisition, announcing plans to buy Innovativ Systems Design Inc., a major U.S. reseller of Sun Microsystems Inc.'s servers and storage products. It's the third purchase in six months for Agilysys, whose ultimate goal is to double in size to become a US$1 billion business within two years. Agilysys will pay US$100 million in cash for Innovativ. The deal, announced Friday, also includes a provision for the vendor to make an extra maximum payment of $90 million provided the Innovativ business achieves specific financial targets in the first two years after purchase. Agilysys hopes to close the acquisition on or around July 1. With headquarters in Edison, New Jersey, Innovativ is a systems integrator and reseller of servers, enterprise storage management and services, with a particular emphasis on the financial services and telecommunications industries. "The acquisition of Innovativ will establish a new and significant relationship between Sun and Agilysys," Arthur Rhein, Agilysys chairman, CEO and president, said in a release. He noted that the company already resells products from Sun's storage rivals EMC Corp., Hewlett-Packard Co. and IBM Corp. and its server competitors HP and IBM. Once the deal is complete, the firm will establish a new Agilysys Sun technology solutions business unit to be headed by Innovativ's current CEO Tony Mellina. In recent months, Agilysys has bought Visual One Systems, a developer and seller of Windows-based software for the hospitality industry, and Stack Computer, a technology integrator that focuses on high-availability storage from EMC and customers in the health-care, financial services and manufacturing industries. At the same time, Agilysys divested itself of its KeyLink systems distribution business assets to Arrow Electronics Inc. in March for $485 million in cash. The offloading of the KeyLink operation is in line with Agilysys' aim to concentrate exclusively on selling technology directly to corporate and public-sector customers. Factoring in the acquisitions of both Stack and Innovativ, Agilysys will expand annual revenue to over $800 million, on its way to becoming a $1 billion operation in 2009 and a $1.5 billion business come 2010. Â
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Investment banks Morgan Stanley  and Lehman Brothers  are among the bidders for a stake in Japanese house builder Daito Trust Construction Co , sources familiar with the deal said, in what could stack up to be one of the biggest buyouts ever in Japan.
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(Source: SunGard)  Like many of its financial services customers, SunGard has grown bother organically and through a series of acquisitions. Such growth has had unique implications in managing a diverse legacy environment with very different development methodologies. In fact, the SunGard portfolio includes applications based on seven operating systems, written more than eight programming languages, and using more than eight database management systems, six Web servers and multiple code repositories. The principal challenge in terms of development has been to unlock and leverage intellectual capital for economies of scale, while nurturing agility and focus.
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SunGard Data Systems Inc. said Monday it will spin off its information availability services business, which helps organizations maintain access to their electronic data during everything from minor mishaps to major disasters.
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Shares in French group Skis Rossignol, the biggest manufacturer of ski equipment in the world, sizzled upwards by 12.66 percent in the first trading session of the New Year on news in a newspaper interview that US sports group Quiksilver was stalking a stake.
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SunGard Data Systems Inc., whose software handles most of the Nasdaq Stock Market trades, said it will spin off its division that helps information-technology dependent businesses keep access to their information.
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The Westfield Group, Multiplex group and Aldersgate Investments Ltd have entered an agreement to pursue a joint cash offer for Duelguide plc, the company which owns UK developer Chelsfield plc.
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SunGard puts business know-how to good use.
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Software company SunGard Data Systems Inc. is dividing into two parts and spinning off its disaster-recovery technology business to shareholders, chief executive Cristobal Conde said. Its shares climbed more than 12 percent Monday.
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The upcoming 700MHz spectrum auctions by the U.S. Federal Communications Commission (FCC)&#160;have drawn bid applications from giant companies including Google and AT&amp;T. But a number of small companies and individuals have submitted bid applications as well.
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Investment banks Morgan Stanley  and Lehman Brothers  are among the bidders for a stake in Japanese house builder Daito Trust Construction Co , which may lead to a multibillion-dollar buyout, sources familiar with the deal said on Thursday.