Feeds

Sungard mulls over Sherwood bid – report

In play

  • alert
  • submit to reddit

Sungard, the US disaster recovery specialist, is mulling over a bid for Sherwood International, the UK insurance software firm, the FT reports.

Sungard could make a move as early as next week, with an 140p per share offer, worth £61.5m. Sherwood is effectively in play. Earlier this year, the company said it would was considering an MBO, worth £50.2m. A rights issue was another option, management said.

Sungard is already big in the UK disaster recovery sector through its ownership of Guardian IT, scooped up for £167m cash last year. But financial software is also a major string to its bow, contributing more than half of its $2.6bn turnover in 2002.

Neither company is talking, publicly at any rate, to the FT. ®

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.