SunGard has completed the acquisition of FINACE, a provider of securities lending and collateral management software, from Swisscom IT Services.
The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard’s financial results.
FINACE will become part of SunGard’s capital markets business, led by Brian Traquair, where it will operate within the securities finance business unit headed by Craig Costigan. FINACE’s management team members, led by managing director Igor Salzgeber, will continue in their current roles.
“Securities finance requires specialist expertise, Brian Traquair, president of SunGard’s capital markets business, says. The FINACE team has a strong reputation in this area, and its skills and solutions will help us enhance our existing offering and create new, compelling propositions for our customers. We look forward to integrating our strategies and bringing our teams together.”
(CM)