SunGard acquires wealth management vendor AFS

SunGard acquires wealth management vendor AFS

SunGard has continued its Christmas shopping spree with the acquisition of front office broker workstation supplier Automated Financial Systems Corporation (AFS).

Ten-year old AFS provides a browser-based broker workstation that integrates account management, trading, workflow, market data and portfolio management on a single platform. Customers of the New York-based vendor include J.B. Oxford, Wall Street Access, Primevest, Hilliard Lyons and PNC Bank

AFS will become part of SunGard’s WealthStation wealth management technology unit.

Gerard Murphy, president of SunGard’s brokerage and clearance business, says: "AFS products are turn-key solutions for SunGard customers since AFS is already integrated with several SunGard solutions including Fame and Phase3.”

Terms of the transaction were not disclosed.

The acqusition of AFS follows a spate of niche technology buy-outs by privately-held SunGard over the past year, as the vendor looks to round-out its product portfolio for distinct industry segments.

AFS is SunGard's second acqusition this month and the fifth since October.

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