SunGard announced Wednesday that it bought out Dataware Solutions, an automated personal trading, code of ethics and employee compliance solutions provider for financial institutions.
Dataware Solutions will become part of SunGard’s Protegent compliance, surveillance and suitability solutions business, a news release said. The terms of the transaction have not been disclosed.
“Dataware Solutions brings expertise and a proven application that will help us to meet the proactive compliance needs of broker/dealers, investment advisors, hedge funds and money managers,” said Paul Erickson, president of SunGard’s Protegent business unit. “Adding Dataware Solutions to Protegent will help us extend employee compliance capabilities to organizations that need better risk controls but do not have the time or expertise to build a solution themselves.”
SunGard provides compliance and risk mitigation solutions and software. SunGard also provides regulatory and compliance consulting services that are designed to help senior executives at financial institutions assess the quality and substance of their risk and compliance programs.