Expects to strengthen its position in the Swiss private banking sector
Financial software company SunGard has acquired Zurich, Switzerland-based Genix Systems to strengthen its position in the Swiss private banking sector. The terms of the acquisition were not disclosed but SunGard said the acquisition is not expected to have a material impact on its financial results.
Genix Systems provides customer information systems to small and medium-sized private banks. Its business will be integrated into SunGard’s banks business and its WinDekis product will become part of SunGard’s Ambit Apsys private banking offering.
Daniel Bardini, president of SunGard’s Ambit Apsys business unit, said: In the wake of the recent financial crisis, many small and medium-sized Swiss private banks have experienced significant growth in their customer numbers. This growth highlighted the efficiencies gained from having tight integration between core banking and customer information systems. The acquisition of Genix, a recognized expert in customer information systems, will allow SunGard to have an integrated product roadmap.
Last month, SunGard acquired instructional management software provider Performance Pathways for an undisclosed sum, and last year acquired a majority stake in financial software company GL Trade for approximately $585.3m, as well as business continuity planning software and services provider Strohl Systems Group.