Data Management Business to Become Part of SunGard’s referencePoint Business
SunGard announced today that it has acquired the TimeSquare business of Soliton Inc., a leading provider of data management solutions for the financial services industry. TimeSquare will become part of SunGard’s referencePoint enterprise data management (EDM) managed services and solutions business. The transaction, the terms of which have not been disclosed, is not expected to have a material impact on SunGard’s financial results.
Janet Crowley, president of SunGard’s referencePoint business unit, said, “Financial institutions increasingly require a continuously expanding array of data sources, data management technology and expertise. SunGard is well positioned to help them ensure data accuracy and scalability, meet compliance-based requirements, and satisfy the diverse range of consumers of data within the firm. TimeSquare complements SunGard’s current data management offerings by bringing additional knowledge and expertise in managed data services helping meet the market data, reference data and time series data requirements of financial institutions.”
SunGard provides a diverse set of solutions for cleansing, managing and distributing market, times series, and reference data enterprise-wide on behalf of its financial, energy, public sector, and intermediary customers. Leveraging SunGard’s Common Services Architecture, SunGard’s referencePoint, which is available as an in-house solution or a managed data service, is designed to solve the problems associated with the collection and management of reference and market data across an enterprise.