SWIFT Acquires SunGard's Ambit Messaging Hub Assets
SWIFT plans to acquire the assets of SunGard’s Ambit Messaging Hub (AMH) solution for high-volume financial messaging. The transaction, which is subject to a number of closing conditions that are expected to be fulfilled by the end of the quarter, strengthens the relationship between the two companies as SunGard’s AvantGard Ecosystem Communication Hub (Echos) for corporate-to-bank messaging is based on the AMH technology.
The acquisition extends SWIFT’s connectivity portfolio as Ambit Messaging Hub is a modular, multi-network, high-volume financial messaging solution that can be tailored to an individual customer’s needs with associated services. The solution will be marketed by SWIFT as Advanced Messaging Hub (AMH). SWIFT is already established as a recognised supplier of interfaces for low, medium and high volumes with its Alliance product suite. The Alliance portfolio will continue to be sold, enhanced, maintained and supported.
SunGard will continue to support its MINT messaging solution, the predecessor solution to Ambit Messaging Hub. Customers using SunGard’s MINT solution for messaging will be able to work with SunGard and SWIFT to migrate to AMH.
The management and staff of SunGard’s Ambit Messaging Hub product line (approximately 20 employees) will transfer to a newly set-up SWIFT subsidiary as part of the deal and will be based in Mechelen, Belgium, Frankfurt, Germany and Zurich, Switzerland. Hans Cobben, who has been heading the group within SunGard, will lead the subsidiary.
“We are delighted to welcome the AMH team into the SWIFT family – they have done a great job at building a business with real growth potential,” said Lázaro Campos, chief executive officer (CEO) of SWIFT. “AMH is an excellent addition to our existing interface portfolio. It is also a demonstration of how SWIFT is evolving its strategy and business model, building on its core competencies and underpinned by the right technology solutions. It is consistent with our SWIFT2015 strategy and has the firm backing of the board.”