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April 20, 2015

SunGard set for sale?

Reports state that the company could be valued at $10 billion.

By James Nunns

SunGard is preparing to appoint financial advisors ahead of a potential sale which could see it valued at $10bn.

According to reports from Reuters, SunGard has been asking investment banks to prepare for interviews as they look to compete for advisory mandates.

The company, which specialises in financial technology, will explore the potential for both an outright sale as well as an initial public offering after it was approached by at least one company regarding a takeover.

It has not been revealed who the approach for acquisition came from.

Last year, SunGard announced that it had increased its revenue by 2% to $2.8 billion, however, as of the 31st of December 2014, it had debt totalling $4.7 billion.

SunGard, was acquired for $11.4 billion in 2005 by a number of partners including Goldman Sachs Capital Partners, Bain Capital and Blackstone Group, as well as others.

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