SunGard to acquire VeriCenter

SunGard has announced that it has reached a definitive agreement to acquire VeriCenter, Inc., a US-based provider of managed hosting, colocation, and infrastructure services. VeriCenter will become part of SunGard Availability Services, information availability and business continuity services arm of SunGard.

The transaction, the terms of which were not disclosed, is not expected to have a material impact on SunGard’s financial results. The addition of VeriCenter increases SunGard’s economies of scale. It also broadens SunGard’s service offerings that combine dedicated and shared resources tailored to specific customer information availability needs. The VeriCenter resources complement SunGard’s business continuity and production hosting solutions that maximize the availability of networks, systems, data and applications.

"Companies have a decreasing tolerance for IT system downtime to avoid business disruptions, and budgetary pressures require them to look for vendors that can increase IT availability in a cost-effective way," said Ted Gaasche, chief executive officer of SunGard Availability Services. "The powerful blend of SunGard’s deep portfolio of information availability services, VeriCenter’s strong facility footprint and the world class expertise of our combined team will further enhance the ability to help protect customers’ mission critical people, systems and applications."

Founded in 1999, VeriCenter serves more than 600 customers with complex requirements and significant uptime needs. VeriCenter hosts business applications, Websites, Software-as-a-Service, and messaging and collaboration applications from a nationwide network of seven data center facilities.

An acquisition by SunGard Availability Services will give VeriCenter customers access to a much broader range of business continuity, consulting and managed services to support their IT requirements.

Gray Hall, chief executive officer of VeriCenter, commented, “SunGard is a best-in-class business continuity services provider and it has a rapidly growing managed services business. More of VeriCenter’s customers seek a total availability solution from a single vendor, and combining our managed services delivery with SunGard Availability Services will help meet this need. Together, we can serve customers that seek business continuity, managed services or the blend of the two.”

www.vericenter.com
www.availability.sungard.com

•Date: 17th July 2007• Region: US •Type: Article •Topic: BC markets
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