Disaster recovery specialist Sungard has announced it is to acquire its UK based counterpart Guardian iT. The transaction values Guardian at approximately $240 million, with Sungard taking on Guardian iT’s debts of around $11 million. Sungard claims the deal will strengthen its information availability services business in the UK and Europe.
James L. Mann, SunGard’s chairman and chief executive officer, stated, We are very pleased that the Guardian board of directors is recommending our offer to Guardian’s shareholders. This transaction is an attractive opportunity for SunGard to strengthen its availability services business in Europe. Combining Guardian with SunGard Availability Services will create a business better able to serve customers in more geographic locations, offering them access to more facilities, platforms, network capacity and technical personnel.