SunGard today announced that its offer to acquire System Access Limited, a leading provider of universal banking software solutions for financial institutions worldwide, has become unconditional in all respects.
SunGard has received acceptances in respect of approximately 99.54% of System Access' shares. System Access will expand SunGard's portfolio of product offerings into the core banking space. The transaction is not expected to have a material impact on SunGard's financial results.
The System Access suite of solutions provides universal banking solutions for back-office transaction processing, front-office multi-channel delivery, card management and payments. It includes System Access SYMBOLS for retail and wholesale banking, treasury and trading; System Access Customer Service Manager for deployment of business services to customers; and System Access CardPro for card management and payments.
John Wilson, president of SunGard's Asia-Pacific business, said, "Core banking solutions are at the heart of information technology requirements of commercial banks. The System Access acquisition will help SunGard deepen its relationship with banks in Central and Eastern Europe, the Middle East and Africa, and Asia Pacific. System Access has created a functionality rich core banking solution that has been developed using open standards. We are committed to helping our customers transform their mission-critical core banking solutions to our latest, most efficient and agile technology."