Move solidifies infrastructure and service delivery capabilities
SunGard Availability Services, an operating group of SunGard, announced today that it has reached a definitive agreement to acquire Denver-based Inflow, Inc.
This follows SunGard's 4 October announcement of the plan to spin-off the availability services business from the software and processing business. The Inflow acquisition is expected to close in the first quarter of 2005, subject to expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and there being no material adverse change in Inflow's business.
The transaction is not expected to have a material impact on SunGard Availability Services' financial results. Terms of the acquisition were not disclosed.
Inflow, an ISO 9001 certified provider, is a leading provider of managed services, business continuity and IT consulting services with 14 datacentres throughout the US. The locations of these centres are geographically complementary to SunGard Availability Services' current facilities, particularly on the West Coast of the US. Once finalised, the acquisition will give Inflow customers access to a much broader range of business continuity and dedicated high availability services to support their IT requirements.
Jim Simmons, group chief executive officer of SunGard Availability Services, commented: "Inflow is a growing company and we eagerly look forward to working with its employees and customers. SunGard Availability Services' mission is to provide our customers access to their important business functions: whether always on, within minutes, hours or even days depending on the criticality of their process. By adding Inflow's managed service expertise to our substantial infrastructure, we will be able to provide even more comprehensive solutions to customers in a greater geographic footprint."
Art Zeile, chief executive officer of Inflow, commented: "We are extremely pleased to be able to combine Inflow's commitment to superior customer satisfaction in managed service delivery with SunGard's presence in information availability. Companies can help ensure that their applications are highly available while still maintaining control by hosting them in SunGard's resilient environment. Combined, we will be able to provide a level of information availability that few other companies can deliver but that businesses should expect from their provider."
Once the acquisition is finalised, SunGard Availability Services will serve more than 10 000 customers in over 3.5 million square feet of data centre space predominantly in North America and Europe.
Simmons added: "We will leverage the strengths and economies of scale of both businesses to provide greater flexibility and cost-effectiveness for customers than most companies can achieve on their own.
Further, the acquisition enhances our managed service capabilities helping us to provide a comprehensive portfolio of services. Customers can have the utmost confidence in SunGard Availability Services' ability to keep their people and information connected."
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