SunGard Completes Tender Offer for Shares of GL TRADE
November 26, 2008 — Wayne, PA, USA
SunGard today announced the successful completion of the tender offer by its wholly owned subsidiary SunGard Investment Ventures LLC for the outstanding shares of GL TRADE, a global financial software solutions company. Through Financière Montmartre, SunGard now indirectly owns 9,734,093 shares of GL TRADE, representing 99.23% of the share capital and voting rights of the company.
As previously announced, SunGard will request the mandatory squeeze-out (“retrait obligatoire”) and delisting of GL TRADE’s shares from Euronext Paris.
Harold Finders, division chief executive officer of SunGard's Financial Systems business, said: “We are very pleased with the successful completion of this transaction. We are now able to fully integrate GL TRADE’s activities with those of SunGard and we look forward to offering an enhanced set of products and services to our combined network of customers.”
With annual revenue of US$5 billion, SunGard is a global leader in 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 25 largest financial services companies. Visit SunGard at www.sungard.com
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SunGard's "Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995:
Statements in this release other than historical facts constitute forward-looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "would," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or similar expressions which concern our strategy, plans or intentions. All statements we make relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those we expected. We may not be able to complete the proposed transaction on the terms summarized above or other acceptable terms, or at all, due to a number of factors, including the failure to obtain regulatory approvals. The factors that may affect our business or future financial results are discussed in our filings with the Securities and Exchange Commission, copies of which may be obtained from us without charge. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.