SunGard has acquired Softputer Technologies’ FundBridge and NSARFiler solutions for financial and regulatory reporting, adding these solutions to SunGard’s asset management business. Softputer’s current chief executive, Art Sookiasian, will also join SunGard.
Terms of the acquisition were not disclosed, but SunGard says the deal is not expected to have a material impact on the company’s 2013 financial results.FundBridge is a web-based application that automates the process of creating financial reports for asset management firms and third-party administrators, and NSARFiler is also web-based, helping investment management companies file Form N-SAR for the SEC. SunGard says that FundBridge and NSARFiler will also look to support other reporting requirements in the future such as Form PF, Form CPO-PQR and AIFMD regulations.
“Joining SunGard elevates Softputer Technologies from a specialist, niche software provider to becoming an important part of a complete end-to-end solution for financial and regulatory reporting. The expanded solution that SunGard will offer will help better service both the traditional and alternative asset management industries,” says Sookiasian.
“The convergence of traditional and alternative asset management coupled with a growing regulatory environment has resulted in our customers seeking more efficient tools in order to ensure compliance. Softputer’s FundBridge and NSARFiler are logical extensions to our asset management offerings, which will help firms establish a more automated process around the data requirements for financial reporting,” says Doug Morgan, president, SunGard’s institutional asset management business.
SunGard Acquires Two Reporting Solutions
SunGard has acquired Softputer Technologies’ FundBridge and NSARFiler solutions for financial and regulatory reporting, adding these solutions to SunGard's asset management business. Softputer’s current chief executive, Art Sookiasian, will also join SunGard.