SunGard acquires DSPA Software
SunGard today announced that it has acquired DSPA Software Inc., a leading supplier of sales compensation and distribution management software to the insurance industry. DSPA Software Inc. will become part of SunGard's insurance business. The transaction, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results.
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DSPA Software Inc. offers FASAT, a comprehensive distribution management and incentive compensation management (ICM) software solution for the life insurance industry. FASAT helps customers to manage evolving distribution channels, support growing product lines, and improve operational efficiencies. FASAT's rule-based structure and flexible component definition helps insurance companies respond rapidly to new product and distribution initiatives by minimizing dependence on traditional system development. SunGard will continue to offer FASAT for use by life insurers and as a complementary solution to SunGard's range of existing applications serving the life insurance industry.
Scott Peart, president of DSPA, said, "We are pleased to be part of SunGard's insurance business and look forward to leveraging the company's global resources, stability and strength to continue to grow FASAT."
Greg Webber, president of SunGard's insurance business, said, "FASAT adds a comprehensive distribution and ICM software solution to SunGard's iWORKS suite of solutions for the insurance industry. It extends the breadth of functionality we can offer to our customers."