Sungard Availability Services (Sungard AS) was a provider of IT production and recovery services. In 2021 it had annual revenues of approximately $773 million and offices in 12 countries. The company used its experience in recovery to design, build and run production environments that are resilient and available. At its peak, with 1,500 IT and business professionals, the company manages 20 mobile facilities staged in strategic locations and 75 hardened data centers and workplace recovery facilities connected by a redundant, global dedicated network backbone. The company filed for Chapter 11 bankruptcy proceedings in April of 2022. In November of 2022 it concluded an agreement to sell the majority of its global assets to two competitors, 11:11 Systems and 365 Data Centers. After 40 years of operation, the company will wind-down North American operations in 2023 following the transition of its assets to 11:11 and 365.

History

SunGard Data Systems (SDS) is formed in 1983 through the

leveraged buyout A leveraged buyout (LBO) is the acquisition of a company using a significant proportion of borrowed money (Leverage (finance), leverage) to fund the acquisition with the remainder of the purchase price funded with private equity. The assets of t ...

of a division of Sun Oil Company. In 1986, the SunGard Data Systems went public through an IPO and was listed on the NASDAQ as SNDT. In 1997 their listing shifted to the NYSE as SDS. In 2001, SunGard acquired Comdisco’s business continuity services extending the company’s reach to Europe. Additional acquisitions of Guardian IT (2002) and Inflow (2005), further extended the company’s reach. In 2005, SDS was purchased in a transaction valued at $11.3 billion, by a team led by SilverLake. Additional SDS acquisitions followed, including their 2007 purchase of Vericenter to provide managed hosting and production availability and a 2010 acquisition of 365 Hosting Limited, an Ireland-based hosted infrastructure provider of Managed Services and Cloud offerings. On April 1, 2014, Sungard Availability Services split off from SunGard Data Systems, to become an independent company. In April 2019, Sungard AS announced it would file for

Chapter 11 bankruptcy protection Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, wh ...

"as part of a consensual agreement with a majority of its creditors to reduce its nearly $1.3 billion debt by more than two-thirds." On May 3, 2019, Sungard AS successfully completed its financial restructuring and emerged from its "prepackaged" Chapter 11. On April 11, 2022, Sungard AS again filed for voluntary Chapter 11 reorganization, citing as reasons rising energy costs and the COVID-19 pandemic having caused organizations to shift to remote work. On November 3, 2022 SungardA
concluded an agreement
to sell the majority of its global assets to two competitors, 11:11 Systems and 365 Data Centers. With the agreements 90% of its staff and 12 of its data centers in North America will transition to the two companies, along with all North American client accounts. Following a transition period, the company will wind-down North American operations later in 2023 and continue to see the sale or disposal of its foreign subsidiaries.

Services

Sungard Availability Services offers IT production and recovery services that include

IT infrastructure Information technology infrastructure is defined broadly as a set of information technology (IT) components that are the foundation of an IT service; typically physical components (Computer hardware, computer and networking hardware and facilitie ...

Cloud computing Cloud computing is "a paradigm for enabling network access to a scalable and elastic pool of shareable physical or virtual resources with self-service provisioning and administration on-demand," according to International Organization for ...

Disaster Recovery IT disaster recovery (also, simply disaster recovery (DR)) is the process of maintaining or reestablishing vital infrastructure and systems following a natural or human-induced disaster, such as a storm or battle. DR employs policies, tools, ...

, and Workplace Recovery. Infrastructure services include traditional colocation which was enhanced with Megaport cloud connectivity in August and September 2020. Cloud services include public and private cloud services that leverage technologies from

Dell Technologies Dell Technologies Inc. is an American multinational technology company headquartered in Round Rock, Texas. It was formed as a result of the September 2016 merger of Dell and EMC Corporation. Dell Technologies ranked 48th on the 2024 Fortune ...

, VMware, and

Amazon Web Services Amazon Web Services, Inc. (AWS) is a subsidiary of Amazon.com, Amazon that provides Software as a service, on-demand cloud computing computing platform, platforms and Application programming interface, APIs to individuals, companies, and gover ...

References

{{reflist Companies based in Delaware County, Pennsylvania Privately held companies based in Pennsylvania Information technology companies of the United States American companies established in 1978 1978 establishments in Pennsylvania Technology companies established in 1978 Companies that filed for Chapter 11 bankruptcy in 2019 Companies that filed for Chapter 11 bankruptcy in 2022 Kohlberg Kravis Roberts companies Corporate spin-offs