SunGard has bought Financial Technologies (FTI). Headquartered in Miami, FTI is a privately held software development company specializing in software applications for the portfolio administration and accounting of private equity partnerships. The transaction, the terms of which have not been disclosed, is not expected to have a material effect on SunGard’s financial results.
“This is a perfect time for us to join SunGard and benefit from the strength and international footprint it offers,” says Jose Sinai, president of FTI. “We believe our current and future customers will benefit from this combination.”
FTI’s flagship product, Investran, provides investment and partnership accounting, portfolio management, reporting and analysis, and investor servicing solutions for private equity and alternative asset management organizations. Investran has nearly 130 customers, including seven of the world’s top 20 private equity firms as well as many third party administrators of private equity funds.
“Investran is a true market leader in the private equity space and we are very pleased to add the company and its employees to our group, says Jack McArdle, group chief executive officer of SunGard Investment Management Systems. “Investran’s management team, which was instrumental in growing the company to its current leadership position, will continue to manage the company from Miami. We are committed to growing our alternative investments business, and this acquisition strengthens our existing solution suite by providing a powerful software solution for the private equity space.”
FTI provides portfolio accounting, investor accounting, CRM and data distribution applications private equity fiorms on an in-house and ASP basis. Founded in 1985, FTI services many of the largest private equity firms and service providers in the world.