SunGard Acquires Assets of Prescient Markets
SunGard Financial Networks, an operating group of SunGard, has acquired the assets of Prescient Markets, Inc., a New York based technology company that supports the short-term debt markets. SunGard had previously acquired a minority interest in Prescient Markets from Bridge Information Systems in July 2001. The acquisition, the terms of which have not been disclosed, is not expected to have a material impact on SunGard’s financial results. Prescient Market’s products and services include: cpmarket.com, a Web site for commercial paper trading allowing real-time transaction capability directly between issuers and institutional investors; and Prescient Funding Desk, a subscription based solution for short-term debt issuers to manage the entire short-term funding process.