SunGard, Inc. Acquires VeriCenter Inc.
Houston, Texas, August 2, 2007 - (The Hosting News) - VeriCenter has entered into a definitive agreement with information availability and business continuity services firm, SunGard Availability Services, for the company to acquire VeriCenter, Inc.
The transaction, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results. The addition of VeriCenter increases SunGard's economies of scale. It also broadens SunGard's service offerings that combine dedicated and shared resources tailored to specific customer information availability needs. The VeriCenter resources complement SunGard's business continuity and production hosting solutions that maximize the availability of networks, systems, data and applications.
Ted Gaasche, Chief Executive Officer of SunGard Availability Services explained, ''Companies have a decreasing tolerance for IT system downtime to avoid business disruptions, and budgetary pressures require them to look for vendors that can increase IT availability in a cost-effective way. The powerful blend of SunGard's deep portfolio of information availability services, VeriCenter's strong facility footprint and the world class expertise of our combined team will further enhance the ability to help protect customers' mission-critical people, systems and applications.''
Founded in 1999, VeriCenter serves more than 600 customers with complex requirements and significant uptime needs. VeriCenter hosts business applications, Websites, Software-as-a-Service, and messaging and collaboration applications from a nationwide network of seven data center facilities.
An acquisition by SunGard Availability Services will give VeriCenter customers access to a much broader range of business continuity, consulting and managed services to support their IT requirements.
Gray Hall, Chief Executive Officer of VeriCenter added, ''SunGard is a best-in-class business continuity services provider and it has a rapidly growing managed services business. More of VeriCenter's customers seek a total availability solution from a single vendor, and combining our managed services delivery with SunGard Availability Services will help meet this need. Together, we can serve customers that seek business continuity, managed services or the blend of the two.''
Once the acquisition is finalized, SunGard Availability Services will serve more than 10,000 customers in nearly four million square feet of operations space predominantly in North America and Europe. Much of VeriCenter's nearly 470,000 square feet of operations space remains untapped. SunGard Availability Services can customize the construction at each site to satisfy customer demands for managed services and business continuity to support customers.
With annual revenue exceeding $4 billion, SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also helps information dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies.
SunGard Availability Services is a provider of information availability services, providing t nearly 10,000 clients in North America and Europe with access to business-critical information systems. With over three million square feet of hardened facilities, SunGard offers a complete range of information availability services for more than 30 technology platforms, from 48-hour disaster recovery hotsites to always-on, high-availability infrastructure, co-location and electronic vaulting services. SunGard also provides technology and systems management services for application and data center outsourcing, as well as business continuity consulting services and planning software.
2006 Business Highlights for VeriCenter Included:
- 26th consecutive quarter of sequential sales growth
- 22th straight EBITDA-positive quarter
- 169 new customers, including BodyCote, Energy Partners, First Data Systems, Jasonís Deli, Merrill Lynch Commodities, Peerless Manufacturing and Ziff-Davis.
- Introduction of Premier Services, a dedicated technical support offering for complex enterprise environments.
- Release of Version 4.0 of the VeriCenter Customer Portal, which presents real-time data to customers about their environments hosted at VeriCenter, and serves as a communication mechanism between VeriCenter and its customers.
- Completed expansion projects in VeriCenter's Atlanta, Boston, Dallas, and Denver data center facilities, bringing the company's current level of production raised floor space to 145,000 square feet.
- For the second consecutive year, VeriCenter was recognized in the Inc. 500 as one of the fastest-growing companies in the United States.
VeriCenter, Inc. is a managed services, application hosting and IT infrastructure outsourcing company for large and mid-market enterprises. From its nationwide network of seven premier data center facilities, VeriCenter endeavors to provide a comprehensive range of managed services including management of servers, storage, backups, network, databases, security and data centers to more than 600 business customers in a broad range of industries. In addition to providing cost savings through economies of scale, VeriCenter delivers value to its customers by providing application availability, reliability and scalability, combined with a flexible and service-oriented culture, and by continuously adapting services to incorporate advances in infrastructure technology such as virtualization and utility computing solutions. In both 2005 and 2006, VeriCenter was recognized in the Inc. 500 as one of the fastest-growing companies in the United States.
For more information about SunGard Availability Services, please visit: www.availability.sungard.com.
To learn more about SunGard, please visit: www.sungard.com.
For more information about VeriCenter, Inc., please visit: www.vericenter.com.