Sungard To Acquire Guardian iT; Expand Availability Services
SunGard, the integrated IT solutions provider, has launched an offer to acquire the shares of Guardian iT plc for 80 pence per share. The transaction values Guardian at approximately GBP 168 million ($240 million), inclusive of bank debt and finance lease obligations. The offer is subject to certain conditions, principally acceptance of the offer by Guardian’s shareholders and anti-competition clearance in the UK. Closing is expected to take place within 90 days. Guardian is expected to merge with SunGard Availability Services, which has approximately 8,000 information availability and business continuity clients.