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   Technology StocksSungard Data Systems (NYSE:SDS)


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To: OldAIMGuy who wrote (106)7/3/2002 1:26:01 PM
From: JakeStraw
   of 131
 
Hi Tom, Looks to me like we might go under $20...

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To: JakeStraw who wrote (107)7/3/2002 1:31:35 PM
From: OldAIMGuy
   of 131
 
Hi Jake, I have money available should it decide to go there......

TV

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To: OldAIMGuy who wrote (108)7/3/2002 1:54:48 PM
From: JakeStraw
   of 131
 
Tom, You're probably one of the only ones with any money left! :^)

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To: JakeStraw who wrote (109)9/5/2002 9:45:12 AM
From: JakeStraw
   of 131
 
Citibank and SunGard Join Forces to Provide Straight Through Processing Through SunGard's eTreasury eXchange
Thursday September 5, 9:03 am ET
biz.yahoo.com
CALABASAS, Calif.--(BUSINESS WIRE)--Sept. 5, 2002--SunGard Treasury Systems, an operating group of SunGard (NYSE:SDS), today announced that Citibank e-Business, a unit of Citigroup (NYSE:C), is now an eTreasury eXchange (eTX) participant. Citibank is the first financial institution to provide a comprehensive range of cash and treasury management services through eTX to SunGard customers around the world.

As a result of this joint offering with SunGard's eTreasury eXchange, Citibank provides seamless access to their cash and treasury management services to large corporations' domestic and global treasury functions. The first mutual customer of Citibank and SunGard Treasury Systems to benefit from this offering is a premier logistic services company, which is already achieving straight-through-processing in their treasury operation by integrating bank account balance information into their cash positions. This enables the concentration of their cash positions and the execution of the necessary payment and treasury transactions.

Simon Williams, Chief Executive Officer of Citibank e-Business, adds that: "This offering will give our clients more flexibility in managing their cash management business anywhere in the world. Delivering the bank's services through the SunGard treasury solution supports our strategy of providing real-time connectivity and straight through processing to our clients -- optimizing operations and enhancing decision-making."

eTreasury eXchange is the service dedicated to corporate treasuries of the SunGard Transaction Network (STN) for cash management between the corporations using Quantum, ICMS/TS, ResourceIQ(2) and GTM treasury solutions and Citibank. The joint offering provides Citibank clients with direct access to their financial information, integrated in real-time into their treasury management software, enabling them to optimize their liquidity position.

"As Citibank is a trusted financial services provider to more than half of our clients, this relationship adds significant value by providing these clients with information and transaction services directly embedded into their own SunGard Treasury System applications," said Ken Dummitt, president, SunGard Treasury Systems.

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To: JakeStraw who wrote (110)10/1/2002 9:14:51 AM
From: JakeStraw
   of 131
 
SunGard And Sun Microsystems To Launch Joint SWIFTNet Initiative
Tuesday October 1, 9:08 am ET
biz.yahoo.com
GENEVA--(BUSINESS WIRE)--Oct. 1, 2002--At the Sibos 2002 conference in Geneva, SunGard Business Integration, an operating group of SunGard (NYSE: SDS), and Sun Microsystems today announced a joint initiative to offer a Global SWIFT Interface solution on the Sun platform.

SWIFT is the world's largest financial payments network, which this year is introducing SWIFTNet as its next generation IP-based messaging platform, comprising of a portfolio of products and future services.

The MINT Global SWIFT Interface (GSI) solution enables clients to connect to the FIN messaging service, SWIFT's secure, store and forward financial messaging service, over SWIFTNet and aims to replace in-house and legacy vendor solutions, for the world's top 300 financial institutions.

"In the drive towards hardened straight-through processing for the financial services industry, SunGard's clients must have the most secure and resilient platform on which to run," said Danny Barsella, president and chief executive officer, SunGard Business Integration. "We believe the right approach for institutions is to consolidate as much of their network operations through a single window, operating on the best possible infrastructure. SunGard Business Integration and Sun Microsystems together can offer our clients the best of both."

"The superior products and services offered by SunGard help financial services institutions to achieve higher straight-through processing rates, and Sun gladly continues the tradition of our close collaboration to help deliver a finely-tuned, highly optimized solution to financial customers," said David Littlewood, global director, financial services industry solutions, Sun Microsystems. "With the MINT GSI Solution residing on Sun infrastructure, clients are able to achieve operational cost efficiencies, with proven reliability, availability and unsurpassed scalability."

SWIFTNet creates a new "mega network" effectively consolidating the existing FIN network together with many other financial networks. This means significant architectural change and creates an opportunity to reduce connection and traffic costs. However, in order to harness this external consolidation opportunity for increasing operational efficiency, organizations need to re-examine their internal network operations for both payments and securities.

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To: JakeStraw who wrote (111)10/28/2002 9:46:42 AM
From: JakeStraw
   of 131
 
SunGard's eTX-TM- and State Street's FX Connect-R- Announce Partnership
Monday October 28, 9:31 am ET
FX Connect(R) to be fully integrated into SunGard's corporate treasury workstation products
biz.yahoo.com

LONDON & BOSTON--(BUSINESS WIRE)--Oct. 28, 2002-- State Street Corporation (NYSE: STT), the world's leading specialist in meeting the needs of sophisticated global investors, announced today that it will partner with SunGard (NYSE: SDS) to offer FX Connect, State Street's multi-bank foreign exchange trading system, as a fully integrated component of all of SunGard's corporate treasury workstation products.
Stanley W. Shelton, executive vice president of State Street Corporation said: "FX Connect's success is largely due to our single-minded focus on providing meaningful straight-through-processing benefits to the customer, in addition to open access to all the liquidity providers they need. Until today, FX Connect has concentrated almost exclusively on serving large global institutional investors and institutions. Our partnership with SunGard allows us to bring these efficiencies and benefits to the corporate marketplace in the most powerful way possible."

FX Connect is the established leader in the multi-bank foreign exchange trading industry with a market share estimated recently by Tower Group at over 70%. SunGard Treasury Systems is also an established leader among treasury management solution providers with a client base comprising over 50% of the Fortune 1000 companies.

FX Connect is offered via State Street's renowned Global Link platform, delivering unique fact-based research, decision support tools, and trading technology for six asset classes to clients in 23 countries worldwide. The initial products to be offered to corporations through the State Street and SunGard partnership are: FX Connect and Quick-FX for multibank trading, GTSS II for trade matching and confirmations, and a new product, Auto FX Connect, which has been specifically designed to meet the workflow and trading requirements of large corporations.

Cris Conde, president and chief executive officer, SunGard, comments, "This alliance fits perfectly with SunGard's business strategy; in today's world, connectivity determines success. Processes need to be automated end-to-end and integrated within companies and across businesses and time zones."

"There is enormous pent-up demand from corporations for the solution we have announced today," said Simon Wilson-Taylor, head of Global Link at State Street Corporation. "Essentially, it's about meeting client needs and no other platform has focused on customer issues the way we have. We delayed making a major push into the corporate FX market until we had the right solution, providing corporates with the same operational and bottom-line benefits that our institutional clients have enjoyed for nearly six years."

About FX Connect:

The first live trades on FX Connect took place on August 13th 1996. In 2000, FX Connect became the first-ever multibank FX system when live trading commenced on March 1st with Deutsche Bank. Among the now 35 banks participating today on FX Connect are ABN Amro, Bank of America, Bank of Montreal, Barclays Capital, Bear Stearns, Brown Brothers Harriman, CIBC World Markets, Citibank, Commonwealth Bank of Australia, Credit Suisse First Boston, Deutsche, Dresdner Kleinwort Wasserstein, FleetBoston Financial, JP Morgan Chase, Lehman Brothers, Lloyds TSB, Merrill Lynch, National Australia Bank, Royal Bank of Canada, Royal Bank of Scotland, Scotia Capital, Societe Generale, Standard Chartered, State Street Corporation, TD Securities, Ulster Bank, Westpac Banking Corporation.

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To: OldAIMGuy who wrote (108)11/20/2002 8:27:40 AM
From: JakeStraw
   of 131
 
One other company Wright likes is Sunguard Data Systems (SDS), which does disaster backup data services for companies and sells software to financial companies. He said it's a very high margin business, and the company has a great balance sheet and 20 percent free cash flow. "We really like their prospects."
marketwatch.com

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To: JakeStraw who wrote (113)11/21/2002 8:30:02 AM
From: JakeStraw
   of 131
 
Penson Worldwide Selects SunGard's STN Settlements for Straight-Through Processing of UK and European Clearing Operations
Wednesday November 20, 4:30 pm ET
Penson also renews contract for Phase3 securities processing system
biz.yahoo.com
BEDFORD, Mass.--(BUSINESS WIRE)--Nov. 20, 2002-- SunGard Securities Processing, an operating group of SunGard (NYSE:SDS), announced today that Penson Worldwide, Inc., will use SunGard's STN Settlements for its London-based affiliate, Penson Worldwide Settlements, Ltd. STN Settlements is an automated clearance and settlement service that connects custodians, broker-dealers, banks and futures commission merchants to custodians, depositories and clearing institutions for trade comparison, reconciliation, clearance and settlement. In addition, Penson has renewed its contract for Phase3, which it has used for multi-currency securities processing, clearance and settlement since 1995.

STN Settlements provides post-execution comparison, matching and netting of trades to and from broker-dealers and outside entities for clearance and settlement. The system interfaces directly with Phase3 to provide a straight-through processing environment. Penson, headquartered in Dallas, Texas, is a leading correspondent-clearing firm that provides clearing and settlement services to financial services companies in the U.S., the U.K., and Europe.

"For Penson, London is the gateway into Europe, and we needed a reliable mechanism for communicating with our sub-custodians who are SWIFT-eligible, as well as reducing the risks of cross-border trading," said Mark Fawver, vice president of international clearing and settlement at Penson Financial Services, Inc. "Adopting STN Settlements into our infrastructure gives our clients a straight-through, seamless trading facility by removing redundant and manual tasks, and linking directly with the Phase3 multi-currency system," said Mr. Fawver.

STN Settlements facilitates straight through processing by leveraging SunGard Business Integration's MINT Knowledge family of products, bridging the gaps between a clearing firm's securities processing system and the many clearance and settlement facilities. STN Settlements eliminates the need for brokers to manage multiple connections, and handles exception management to quickly resolve problems and reduce risk.

"With the SWIFT and Euroclear interfaces contained in STN Settlements, we will be able to better handle the many settlement rules in each country, while also taking advantage of STN Settlements' workflow capabilities such as exception management and a range of other capabilities that make reconciliation much more efficient," said Mr. Fawver.

STN Settlements currently offers, from a single point of access, interfaces with the Government Securities Clearing Corporation's (GSCC) Real-Time Trade Matching (RTTM) system, SWIFT Category 5 compliant with the 15022 standards, Euroclear, and the Depository Trust Corporation (DTC) inventory management system. SunGard plans to add several more interfaces to STN Settlements by the first quarter of 2003, including Bank of New York government securities and Mortgage-Backed Securities Clearing Corporation's (MBSCC) RTTM.

About STN Settlements

Based on SunGard Securities Processing's StreamBridge central interface management system and knowledge base, STN Settlements is platform independent and provided in an ASP environment. STN Settlements is built on industry-standard communication and messaging protocols, including ISO 15022 and XML. STN Settlements uses SunGard Business Integration's MINT Knowledge Master and MINT Knowledge Broker integration solutions, which utilize Sun(TM) ONE products, and run on the Sun Microsystems (Nasdaq:SUNW) Solaris(TM) Operating Environment.

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To: JakeStraw who wrote (114)1/21/2003 8:14:44 AM
From: JakeStraw
   of 131
 
SunGard to Acquire Caminus
Tuesday January 21, 7:13 am ET
Leading Provider of Integrated Software Solutions for the Energy Industry Offers Synergies with SunGard's Risk Solutions
biz.yahoo.com

NEW YORK--(BUSINESS WIRE)--Jan. 21, 2003--SunGard Data Systems Inc. (NYSE:SDS) and Caminus Corporation (Nasdaq:CAMZ) announced today that they have reached a definitive agreement for the acquisition by SunGard of all the shares of Caminus for $9.00 per share in cash.

Based on Caminus's 17.7 million fully diluted common shares outstanding, the transaction has an aggregate value of approximately $159 million. The board of directors of each company has approved the transaction. The acquisition is not expected to have a material impact on SunGard's financial results.

Under the terms of the definitive agreement, a wholly owned subsidiary of SunGard will commence a cash tender offer to acquire all of Caminus's outstanding shares at a price of $9.00 per share. Following successful completion of the tender offer, any remaining shares of Caminus will be acquired in a cash merger at the same price. Caminus will be an operating unit within SunGard Trading and Risk Systems, a SunGard operating group, and will be led by John Andrus, currently chief operating officer of Caminus.

Caminus is a global leader of integrated software solutions for the energy industry, with expertise in end-to-end, integrated transaction processing, management and scheduling solutions. The company's 250 customers touch every piece of the energy value chain and include leading power and gas producers, distributors, utilities, municipalities and financial institutions, as well as half of the Fortune 1000's merchant energy companies. With approximately $84 million in calendar 2002 revenue, Caminus is a leader among independent software providers in this market.

"This transaction makes sound business and financial sense for all of Caminus's constituents," said Bill Lyons, Caminus president and chief executive officer. "Caminus in a short period of time has built a leading company serving a demanding, high-visibility market. It is easy to see why SunGard would find us an attractive acquisition. From our point of view, the relationships, resources and geographic reach of SunGard provide a preferred platform from which to quickly achieve further, significant growth." Lawrence Gilson, Caminus's chairman, added, "The transaction reinforces Caminus's mission and product set and enhances the capacity to produce greater benefits for our customers. For employees, for whom I want to express a special debt of gratitude, this transaction substantially expands career opportunities for many and adds muscle in support of the objectives toward which our people have long been working. For shareholders, the transaction provides a compelling opportunity to realize now the value that Caminus has created."

Jim Ashton, group chief executive officer of SunGard Trading and Risk Systems, said, "Our acquisition of Caminus is consistent with our highly disciplined and successful acquisition process and represents an important opportunity for SunGard Trading and Risk Systems in the energy industry. Caminus and SunGard will exploit the synergies that exist between our solutions to meet the new demands of the energy industry, where companies increasingly focus on integrated software solutions to support their physical energy business. Our leading high-end energy risk solutions, such as Panorama, nicely complement Caminus's integrated software solutions. Caminus's established and respected client base can rely on SunGard's resources for continued development and support."

The consummation of the transaction is subject to customary conditions, including the tender of at least a majority of the outstanding shares of Caminus in the tender offer and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Assuming satisfactory results of the tender offer, it is estimated that the transaction will be completed in the first quarter of 2003.

Certain stockholders of Caminus holding in the aggregate stock representing approximately 26% of the total outstanding shares on a fully diluted basis have entered into a definitive agreement with SunGard in which they have agreed to tender their shares.

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To: JakeStraw who wrote (115)2/19/2003 8:29:59 AM
From: JakeStraw
   of 131
 
SunGard Announces Record Revenue and Earnings for 2002
Tuesday February 18, 5:52 pm ET
Operational Efficiency and Resilience Drive Deeper Client Relationships
biz.yahoo.com

WAYNE, Pa.--(BUSINESS WIRE)--Feb. 18, 2003--SunGard (NYSE:SDS), a global leader in integrated IT solutions for financial services and leading provider of information availability services, reported today that GAAP net income for the year ended December 31, 2002 was $326 million, a 32% increase over $246 million for 2001. The related diluted net income per share was $1.12, up 30% over comparable results of $0.86 in 2001.

Excluding merger costs, other one-time items and goodwill amortization, diluted earnings per share for full-year 2002 were $1.15, up 19% over the $0.97 posted in 2001. This is one cent above the top of the range of the company's 2002 outlook of $1.10 to $1.14, which was first announced in February 2002. The related net income was $334 million, up 21% from the $277 million reported in 2001. Further details concerning one-time items are described in the Notes attached to this release.

Cash earnings per share, which exclude after-tax amortization of acquisition-related intangibles, were $1.29 for full-year 2002, up 21% over $1.07 for 2001.

GAAP net income for the quarter ended December 31, 2002 was $96 million, a 46% increase over $66 million reported in the same period in 2001. The related diluted net income per share was $0.33 for the quarter, up 43% over $0.23 reported in 2001.

Excluding merger costs, other one-time items and goodwill amortization, net income and diluted net income per share for the quarter were $96 million and $0.33, increases of 20% and 18%, respectively, over comparable results of $80 million and $0.28 in 2001.

Revenue for full-year 2002 was $2.59 billion, an increase of 31% over the $1.98 billion reported for 2001. Revenue for the quarter was $702 million, an increase of 22% over $576 million reported in the year-ago quarter. Excluding acquired businesses, revenue increased approximately 1% for the year and decreased approximately 1% for the quarter, compared to 2001 results.

"SunGard performed strongly in 2002. We executed on our strategy and realized record revenue and net income," commented Cristobal Conde, president and chief executive officer. "While we operate in the same macro environment as our competitors, we benefit from a large client base that we serve efficiently on shared platforms. This gives us enviable economies of scale. Our focus on operational efficiency and operational resilience matches our clients' priorities. These factors drive clients to deepen their relationships with SunGard."

"In formulating our 2003 outlook, we followed our usual bottoms-up approach and assumed neither a rebound nor a further deterioration in demand. Our outlook for 2003 diluted net income per share, excluding merger costs and other one-time items, is in the range of $1.24 to $1.29, representing growth of between 8% and 12%," added Mr. Conde.

Investment Support Systems (ISS) revenue grew 4% to $1.36 billion for the year. Quarter-over-quarter revenue grew by 2% to $362 million. Excluding acquired businesses, revenue decreased approximately 2% for the year and 4% for the quarter. ISS is broadly diversified both in terms of clients and products.

Availability Services revenue increased 101% to $1.05 billion for the year. Quarter-over-quarter revenue increased 59% to $290 million. Excluding acquired businesses, revenue increased approximately 7% for the year and 4% for the quarter. The integration of both the Guardian iT and Comdisco Availability Solutions businesses continues to proceed well and is ahead of plan.

SunGard has exceptional financial strength and flexibility, enabling it to further invest in its existing businesses and to acquire new ones. Cash balances as of December 31, 2002 were $440 million. During 2002, current and long-term debt decreased $253 million, while approximately $353 million of cash was spent on nine acquisitions and repayment of acquired debt. Following its highly disciplined acquisition methodology, the company continues to identify acquisitions that complement its existing products, expand its presence and have solid growth prospects. During the first quarter of 2003, the company expects to spend approximately $370 million in cash on pending and previously completed acquisitions.

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