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SunGard Changes Hands for $11.3 Billion

SunGard, the largest technology company providing solutions to the financial markets, has reached agreement with a consortium of seven private equity investment firms, under which the consortium will acquire SunGard in a transaction valued at approximately $11.3 billion. The acquiring consortium was organized by Silver Lake Partners and includes Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. L.P., Providence Equity Partners and Texas Pacific Group.

The board of directors of SunGard has approved the merger agreement and has recommended to SunGard’s stockholders that they adopt the agreement.In light of the transaction, the board of directors of SunGard has announced it is not to implement the previously announced plan to spin off SunGard’s Availability Services business. The deal is expected to be completed in the third quarter of 2005, subject to receipt of stockholder and regulatory approval.

"This transaction offers great value to our stockholders and represents an endorsement of our business model, industry leadership and financial strength.Our customers and employees should know that it is business as usual, now and following the completion of the transaction,” says CristNLG³bal Conde, president and CEO of SunGard.”The new investors in SunGard are world-leading private equity firms.They have a long-term view towards growing the businesses in which they invest and an excellent track record of working in partnership with management to build great companies.

"This transaction would not have been possible without the hard work of all our employees,” he continues. “They should be assured that the success of the transaction will depend on growing the business rather than eliminating jobs or reducing service levels.Upon completion of the transaction, our current senior management team will continue to lead the company, with corporate headquarters remaining in Wayne, Pennsylvania."

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