Union of Financial Software Leaders Creates Strategic Global Partner for
Banks, Asset Managers, Corporates and Government Treasuries
Merger Accelerates Software Innovation to Meet Exploding Demand for Financial
Trading and Risk Management Solutions
NEW YORK, Jan. 13 /PRNewswire/ -- Infinity Financial Technology, Inc.,
Renaissance Software, Inc. and SunGard Capital Markets, three wholly-owned
subsidiaries of SunGard Data Systems Inc. (NYSE: SDS), today announced their
merger, effective January 19. The new company is called Infinity.
Infinity provides enterprise applications for financial trading, risk
management and operations. Its customers are banks, asset managers, corporates
and government treasuries who need to accurately quantify and manage returns
and risks.
Executives from each of the three organizations serve in key positions on
the new management team. Roger A. Lang, former chief executive officer of
Infinity Financial Technology, serves in the same capacity at the new company.
He reports to Cristobal Conde, chairman and chief executive officer of SunGard
Trading Systems Group, one of the six operating groups of SunGard Data
Systems.
"The new company unites three financial software leaders into one global
company that uniquely combines best-of-breed applications, innovative
technology, successful partnerships and the strongest sales and client
services team in the history of the industry," said Lang. "For the first time,
a company in the financial risk management arena has reached critical mass.
Our customers will benefit from accelerated product innovation as well as the
resources of a strategic global partner."
Conde added: "The merger capitalizes on the opportunities created by
three key market trends: first, the explosive growth in the volume, complexity
and diversity of financial instruments; second, intensifying regulatory
scrutiny in the wake of high-profile institutional losses; and third, the
dramatic shift from proprietary to vendor solutions to leverage leading-edge
technology."
Each of the companies brings complementary strengths to the merger,
including the de facto industry standard technology platform, market-proven
products, world-class financial and software engineers and an international
base of prestigious customers. Only the new company's adaptable applications
integrate all the trading, risk management and operations activities of the
enterprise, developed and supported by the financial software industry's
largest team of experts. The company will continue to grow this team through
aggressive recruitment around the world.
SunGard Data Systems Inc. is the largest specialized provider of
proprietary investment support systems, a pioneer and leading provider of
comprehensive computer disaster recovery services and a provider of
proprietary healthcare information systems. SunGard's common stock is reported
on the New York Stock Exchange under the symbol SDS.
SOURCE Infinity Financial Technology, Inc.
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Related links:
http://www.infinity.com
CONTACT:
in London, Daljit Saund, 44-171-337-6000, or
dsaund@sungard.com, or in New York, J. Mack Gill, 212-344-6900,
or jgill@sungard.com, or in Silicon Valley, Calisa Cole, or
650-940-6100, or calisa_cole@infinity.com, all for Infinity
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
115467
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