SunGard has acquired Strohl Systems Group Inc., a King of Prussia, Pa.-based provider of business community planning software and services. No financial terms were disclosed. SunGard was acquired in 2005 by seven private equity firms, while Payformance has raised around $26 million in VC funding from firms like ABS Capital Partners, Wachovia Capital Associates and Stonehenge Capital.
SunGard (http://www.sungard.com) today announced that it has reached a definitive agreement to acquire Strohl Systems Group, Inc., a leading provider of business continuity planning software and services. Strohl Systems will become part of SunGard Availability Services, the pioneer and leading provider of information availability solutions. The transaction, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results.
Strohl is best known for its full life cycle of business continuity solutions including its continuity planning software, LDRPS; its business impact and risk assessment tool, BIA Professional; its notification solution, NotiFind; and its virtual emergency operations center tool, Incident Manager powered by WebEOC. Strohl Systems is a leader in delivering business continuity planning solutions to community banks and credit unions via its award winning solution, PLANet. In total, Strohl has more than 2,000 customers in 20 countries including nearly 30 percent of the Fortune 500.
As well as this solution suite, SunGard will acquire deep intellectual capital in business continuity including experienced developers and customer support professionals, and a dedicated software professional services organization and sales force that will continue to support existing customers and prospects.
Going forward, both SunGard's Paragon and Strohl Systems' LDRPS will continue to be supported. SunGard's ability to help customers prepare for and respond to business disruptions will be enhanced by leveraging LDRPS together with Paragon.
Brian Turley, chief executive officer of Strohl Systems, commented, “For the past 20 years, Strohl Systems has been solely dedicated to the design, development, distribution and support of business continuity software. We see our heritage as a perfect complement to SunGard's 30 years of helping companies prepare for and recover from disruptions. We seek to offer our customers greater options for even more extensive business continuity services that only SunGard Availability Services can provide.”
Eric Berg, group chief executive officer of SunGard Availability Services, said, “The acquisition of Strohl Systems enhances SunGard Availability Services' solutions portfolio. All businesses need a continuity plan, regardless of size or industry. Companies are facing a more exacting regulatory environment and their customers are demanding that their business is highly available. By combining SunGard's and Strohl's proven business continuity expertise, customers will have access to the tools, intellectual capital and services portfolio to tailor integrated solutions to meet their requirements at a competitive price point. With this transaction, SunGard Availability Services' customers gain access to an expanded set of business continuity planning software options. Strohl Systems' customers will now have access to SunGard's wide range of managed IT services, shared recovery and consulting services