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Technology / AI and automation

SUNGARD TO BUY ADS ASSOCIATES FOR $30M

SunGard Data Systems Inc is continuing to expand its collection of financial applications and has made its second acquisition in a week – and fifth of this year – signing an agreement to acquire California-based ADS Associates, Inc for SunGard shares worth roughly $30m. ADS’s application, Global Trader, supports foreign exchange, money markets and fixed-income trading activity worldwide. It also markets a treasury information management system that automates corporations’ domestic and international treasury operations. ADS has offices in California, London and Hong Kong and claims 350 customers globally. The acquisition, which will be accounted for as a pooling-of-interests, should close in the fourth quarter of 1997. SunGard says the transaction shouldn’t have a material impact on its financial results.

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