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SunGard acquires Genix Systems AG

Posted: 03 April 2009

SunGard has announced that it has strengthened its position in the Swiss private banking sector by acquiring Genix Systems AG, a Zurich-based provider of customer information systems to small and medium-sized private banks. Genix will be integrated into SunGard's banks business and its flagship solution, WinDekis, will become part of SunGard's Ambit Apsys private banking solution, with which it already shares a number of common customers. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results.

Bruno Matter, co-founder of Genix, said "We have worked with SunGard, and particularly the Ambit Apsys private banking team, for a number of years and have always enjoyed a good working relationship. This acquisition will now give us access to a wider customer base and provide us with the backing of a strong and experienced company."

Daniel Bardini, president of SunGard Ambit Apsys business unit, commented: "In the wake of the recent financial crisis, many small and medium-sized Swiss private banks have experienced significant growth in their customer numbers. This growth highlighted the efficiencies gained from having tight integration between core banking and customer information systems. The acquisition of Genix, recognized experts in customer information systems, will allow SunGard to have an integrated product roadmap. We have enjoyed a good relationship with Genix in the past, and now look forward to working with them as colleagues."

 

 

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