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Technology / AI and automation

SUNGARD ACQUIRES BANCWARE IN A SHIFT TOWARDS TRADING SYSTEMS

In its fourth acquisition this year, Wayne, Pennsylvania-based SunGard Data Systems Inc, once a specialist in disaster recovery software, is adding to its portfolio of financial software with the acquisition of BancWare Inc from Boston, Massachusetts, on undisclosed terms. Fifteen year-old BancWare specializes in asset and liability management software for financial institutions, and has 85 customers worldwide. SunGard already has risk management software, and has set up a Trading Systems Group, which includes Front Capital Systems, Renaissance Software Inc, SunGard Capital Markets and SunGard Futures Systems.

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CBR Staff Writer

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