Sungard Availability Services (Sungard AS) is a provider of IT production and recovery services with annual revenues of approximately $773 million and offices in 12 countries. The company uses its experience in recovery to design, build and run production environments that are resilient and available.

How many data centers does SunGard have?

Our Facilities. Sungard Availability Services offers resilient, hardened colocation data centers, and disaster recovery centers in 45 locations worldwide.

What is SunGard GMI?

SunGard's GMI, a clearing and accounting system for exchange traded derivatives, futures and options, now supports Nodal Exchange and is ready to be deployed by clearing members in anticipation of the launch of Nodal Exchange in early 2009.

What is Front Arena?

FIS® Cross-Asset Trading and Risk Platform (formerly Front Arena) is a combined order management system and portfolio management system that encompasses the full trade life cycle for the buy side and delivers real-time cross-asset trading, risk management, position keeping, general ledger and more.

What are SunGard provisions?

“SunGard” or “certain funds” provisions are common in commitment letters for large and middle-market U.S. acquisition financings and limit the representations and warranties made by the borrower to certain “specified representations” that must be accurate and, in secured financings, the delivery of certain types of ...

Sungard Availability Services Disaster Recovery as a Service (RaaS) Explained

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What does Fidelity Information services do?

Fidelity National Information Services, Inc. is a payment services provider. The Company provides credit and debit card processing, electronic banking services, check risk management, check cashing, and merchant card processing services to financial institutions and merchants.

Is SunGard Availability Services part of FIS?

The seven private-equity firms collectively own that company, called Sungard Availability Services. Fidelity National, known as FIS, is paying the private-equity firms $2.3 billion in cash and $2.8 billion of its shares for SunGard.

What is Fidelity Information Services LLC?

Fidelity Information Services, Inc. provides information-based technology solutions and processing services to financial institutions.

What is a financial information system?

A financial information system is an organized approach to collecting and interpreting information, which is usually computerized. ... This system can be used in many ways, including the following: Ensure that there are sufficient funds on hand to pay for obligations as they come due for payment.

What is a SunGard commitment?

A SunGard clause reduces the number of conditions precedent to funding the loan, thereby providing more certainty to the seller that the financing will be available and the acquisition will close. ... They are especially common in a competitive market.

What are specified representations?

Specified Representations means the representations and warranties of the Borrower with respect to itself set forth (or referred to) in the Term Sheets relating to its legal existence; corporate power and authority relating to the entering into and performance of the Credit Documentation by the Borrower; the due ...

What is inside date M&A?

"Inside Date" means the date that is 45 days after the date of this Agreement.

How much did FIS pay for SunGard?

Provider of banking and payments technology, Fidelity National Information Services Inc. (FIS) has agreed to buy SunGard Data Systems in a deal valued at $9.1 billion, including $4 billion of debt.

What is cross asset trading?

A cross trade is a practice where buy and sell orders for the same asset are offset without recording the trade on the exchange. ... A cross trade also occurs legitimately when a broker executes matched buy and a sell orders for the same security across different client accounts and reports them on an exchange.

What is Front Arena Developer?

Job Description

The role is to develop and support Front Arena applications through extending and integrating the core Front Architecture. SPECIFIC RESPONSIBILITIES: Develop highly visible applications within Front Arena. Design and develop integrations with other trading and back office applications.

What is SunGard limited conditionality?

The SunGard commitment papers curtailed conditionality in a way that limited the amount of "daylight" between the acquisition agreement conditions and the commitment letter conditions, thus minimizing the borrower's risk of being forced to close an acquisition without access to adequate sources of funds.

What is a limited condition acquisition?

Limited Condition Acquisition means any acquisition by one or more of the Company and its Restricted Subsidiaries of any assets, business or Person whose consummation is not conditioned on the availability of, or on obtaining, third party financing.

What are Xerox provisions?

The "Xerox" provision refers collectively to: Sole and exclusive remedy. The reverse break-up fee, when paid, is the seller's sole and exclusive remedy against the buyer and its affiliates and the lenders. No recourse to lenders.

Why financial information is important?

Financial statements are important to investors because they can provide enormous information about a company's revenue, expenses, profitability, debt load, and the ability to meet its short-term and long-term financial obligations. There are three major financial statements.

What is the purpose of financial information system?

A financial information system (FIS) accumulates and analyzes financial data used for optimal financial planning and forecasting decisions and outcomes.

How does finance use information systems?

One of the uses of a financial information system is to record transactions. By maintaining records of every single transaction that occurs within a business, a financial management information system makes it possible to carry out an audit effectively.