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Technology Stocks : Sungard Data Systems (NYSE:SDS)
SDS 16.09-2.9%12:19 PM EDT

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To: JakeStraw who wrote (86)10/23/2001 8:16:47 AM
From: JakeStraw  Read Replies (1) of 131
SunGard Announces Asia-Pacific Expansion
SINGAPORE--(BUSINESS WIRE)--Oct. 22, 2001--SunGard (NYSE:SDS) today announced its plans to expand its presence in Asia-Pacific.

The Company has established SunGard Asia-Pacific, headquartered in Singapore, specifically to distribute SunGard products in the region.

SunGard Asia-Pacific's president, Matt Mandalinci, said, ``SunGard currently serves more than five hundred clients in Asia-Pacific, including many of the region's largest financial institutions. The objective of setting up a distribution and support organization is to provide additional focus for our international expansion. With fourteen operating units already offering specialized products in the region, SunGard Asia-Pacific will bring additional resources and the commitment of a global technology company with local knowledge and expertise.''

SunGard already has offices in Singapore, Sydney, Melbourne, Perth, Christchurch, Wellington, Hong Kong, and Bangkok. The Company has recently opened offices in Beijing and Seoul and plans another in Taipei.

Cris Conde, president of SunGard, said, ``SunGard has a strong and expanding presence in Asia-Pacific. The region represents over half the world's population and both local and global financial institutions are rapidly bringing to market new products and services. Their primary challenge is how to integrate new services with their legacy systems in a cross border environment. With a focus on integration and transaction networks, SunGard is ideally placed to help our clients address this challenge. Integrated Solutions combine selected SunGard best-of-breed applications to provide straight-through processing within an institution. The SunGard Transaction Network connects the different parties in the financial marketplace to achieve straight-through processing between institutions.''
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