SunGard has acquired Toronto-based Stratix Consulting, a leading provider of IT consulting services to Canada's financial services companies. Specializing in capital markets, wealth and investment management, and insurance, Stratix Consulting has delivered IT management consulting and implementation services for customers since 1996. Terms of the transaction, which is not expected to have a material financial impact on SunGard, were not disclosed.
Stratix Consulting will be part of SunGard's Global Services business, which combines business consulting, technology and professional services for financial services firms, energy companies and corporations.
Cedric Packham, president and managing partner of Stratix Consulting, said, "Joining SunGard gives us the opportunity to undertake much larger initiatives. It will also help us provide a fully integrated service offering to our customers by adding application development, testing and systems integration to our implementation services practice, while also expanding service offerings within our management consulting practice." As part of SunGard Global Services, Mr. Packham will become managing partner of the financial services practice in Canada, reporting to Doug Wendler, president of SunGard Global Services in the Americas.
"The acquisition of Stratix Consulting supports our commitment to providing comprehensive business and technology solutions to the financial services industry in Canada," said Mr. Wendler. "Stratix Consulting brings a strong management team and focus on the Canadian financial services industry. Stratix has deep knowledge and experience in the capital markets, wealth management and insurance sectors, and with offices in Toronto and Montreal, Stratix will help position SunGard to better serve our Canadian financial services customers."
About SunGard Global Services
SunGard Global Services combines business consulting, technology and professional services for financial services firms, energy companies and corporations. Leveraging SunGard's global delivery model, more than 5,000 employees worldwide help customers manage their complex data needs, optimize end-to-end business processes and assist with systems integration, while providing full application development, maintenance, testing and support services. For more information, please visit www.sungard.com/globalservices.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, please visit SunGard at www.sungard.com.