Tech giant FIS closes 5.1 billion acquisition of SunGard

14 December 2015 Consultancy.uk

Fidelity National Information Services, in short known as FIS, has completed its $5.1 billion acquisition of SunGard. The deal creates one of the globe’s largest service providers, with more than 55,000 employees and revenues in excess of $9.3 billion.

SunGard has, since its founding in 1982, grown into a major financial software companies, with annual revenue of $2.8 billion. The company’s 13,000 employees provide solutions for financial services, the public sector and education, including software, cloud infrastructure, global service capabilities and functional expertise. The company also has a professional services arm, whose job it is to provide implementation and integration of solutions, custom software development and managed services.

Jacksonville, Florida (US) headquartered FIS is a global financial technology services firm that serves more than 14,000 institutions in over 130 countries, among others in the area of payment processing and banking solutions.

Fis completes acquisition of sungard

In August FIS and SunGard unveiled that they had struck a deal worth $5.1 billion, based on $2.3 billion in cash, $2.8 billion of FIS shares, and the assumption of SunGard debt. Four month down the line, in sync with the expectation the deal would be closed in the fourth quarter, the two partners have now confirmed that regulatory approvals and other customary closing conditions have been met, closing the transaction.

The deal sees the joint company provide the two firms’ complementary offerings, including retail and institutional (or wholesale) banking, payments, risk management, asset solutions and insurance. The combined company has more than 55,000 employees and $9.3 billion in revenue on a pro-forma basis.

“At FIS, we are driving innovative solutions and delivering high-quality client experiences that move our clients’ business forward each and every day,” says Gary Norcross, President and CEO, FIS. “This acquisition creates one of the broadest sets of technology assets and market expertise in the industry, and allows FIS to present new opportunities to our existing client base as well as to financial services markets that we have not historically served.”

Russ Fradin, SunGard President and Chief Executive Officer adds, “Our focus has always been on delivering more value to our clients and making decisions that achieve our growth and performance objectives. We are proud to become part of one of the financial services industry’s most respected and solidly performing companies. We embrace this transaction and believe it is the best outcome for our employees and the clients we are dedicated to serving.”

Gary Norcross and Russ Fradin

Dealmakers
FIS was advised on by financial advisors from Bank of America and Centerview Partners, while Willkie Farr & Gallagher provided legal advice. Goldman Sachs, JP Morgan Chase, Barclays, Deutsche Bank and Credit Suisse were SunGard’s financial advisers. Simpson Thacher & Bartlett and Shearman & Sterling served as legal advisers to SunGard.

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SQW Group purchases property-based regeneration consultancy

19 April 2019 Consultancy.uk

UK consulting firm SQW Group has completed its first acquisition since it completed a management buyout in January 2019. BBP Regeneration joins the company having collaborated with SQW for more than 20 years.

Established in 1983, SQW Group now operates all over the world. Comprising SQW, Oxford Innovation, Oxford Innovation Services – one of the UK’s leading innovation centre operators – and Oxford Investment Opportunities Network, the organisation’s origins can be traced to Britain’s two ancient university cities: Oxford, through Oxford Trust founders, Martin and Audrey Wood, and Cambridge, through SQW’s work in producing The Cambridge Phenomenon.

The consultancy specialises in public policy, working with entities from the public, private and voluntary sectors to research, develop, implement and evaluate social and economic development interventions. It now employs over 250 people across regional offices in London, Oxford and Edinburgh, and provides business support to over 4,000 entrepreneurs and small businesses each year. At the start of 2019, SQW secured its independence in a management buyout, advised on by M&A experts from Liberty Corporate Finance and Penningtons Manches.

SQW Group purchases property-based regeneration consultancy

SQW has strengthened its position as a provider of services across the business spectrum with the acquisition of BBP Regeneration. Founded in 1994, the consulting firm specialises in land and property-based regeneration and growth schemes, and is a leading social and economic development consultancy. 

The two firms first worked together over 20 years ago, when SQW and BBP collaborated to develop the first Regional Economic Strategy for the South East. More recently, they developed an economic strategy for Thanet and are now working together in locations stretching from Cwmbran via Oxfordshire to London.

With the addition of BBP, SQW can now provide an integrated advisory service for organisations developing property schemes which deliver economic benefit to their local area. By joining SQW, meanwhile, BBP hopes to further enhance its ability to support clients in delivering property and place-making ambitions. 

Speaking about the deal, SQW CEO David Crichton-Miller commented, “The UK more than ever needs solutions to the challenges of places – of high streets under threat, of meeting housing delivery targets, and of both economically over-successful and economically challenged towns and cities – and the combination of SQW and BBP is uniquely suited to developing those solutions. [This deal] brings together critical and complementary services relating to places to serve our clients with leading edge and practical advice.”

Andy Smith, Director of BBP Regeneration, added, “SQW shares with BBP the same values of seeking to provide outstanding, practical, real world advice that helps get buildings built and places developed.  We greatly look forward to the opportunities that come from joining our two organisations together.”