23 September 2015
BDA advises SunGard on sale of its Singapore-based Retail Banking business
Divested Singapore-based Retail Banking business
BDA Partners is pleased to announce that its client, SunGard Data Systems Inc, a US-based financial software company, has agreed to sell its retail banking software business, SunGard Ambit Singapore Pte Ltd (“SAS”) to Silverlake Axis Ltd (“SAL”). SAL is a leading provider of digital economy solutions and services, listed on the Singapore Stock Exchange.
BDA was the exclusive financial advisor to SunGard on the transaction.
SAS is a provider of core banking, payment processing and channel solutions products and services, catering mainly to mid-sized local banks. It is headquartered in Singapore with operations across SE Asia, the Indian sub-continent, the Middle East and Europe. Products include software for collateral and limit management, Islamic banking, payment processing, payment authentication, online banking, customer management and branch concierge software.
SAS offers a retail banking portfolio of software and service solutions to complement SAL’s strengths in driving digital innovation. Through this acquisition, SAL will expand its suite of software and services, and deepen and broaden its customer relationships and geographical presence.
Dr. Raymond Kwong, SAL’s CEO and Group Managing Director, said, “The Group is constantly on the lookout for complementary software businesses to expand our suite of business enterprise software solutions. Through this acquisition, the combined multi-platform core, channels, card, and payment solutions will enable us to deepen our customer solution implementation and support capabilities. This investment will position Silverlake Axis to play a leading role in Digital Financial Technology adoption and innovation across an expanded market space leveraging on the combined portfolio of software and knowledge assets.”
Simon Kavanagh, BDA Managing Director in Hong Kong said, “We are pleased to have advised SunGard on a successful transaction under tight time constraints. The sale showcases BDA’s unrivalled capability in running global sale processes for Asian companies. This is a strong reference transaction for BDA’s fin-tech practice, an attractive sector with strong growth potential.”
Andrew Huntley, BDA Senior Managing Director in London commented, “BDA has a long record of advising leading global corporates on Asian transactions, both acquisitions and divestments. Multinationals have built up sizeable Asian businesses in the last few decades of Asian growth, so smart moves to focus on their core competencies, and to streamline and right-size their global operations make perfect sense. BDA strives to add value through sector knowledge, regional insight and professional M&A processes. We are delighted to have helped SunGard close this successful transaction in just six months.”
SunGard is one of the world’s leading financial software companies, with annual revenue of US$2.8bn. The company provides solutions for financial services, the public sector and education. Its software is delivered via Software as a Service (“SaaS”), in the cloud and on premises, surrounded by an extensive suite of service offerings. Through the depth and breadth of its solution portfolio, global capabilities and domain expertise, SunGard is uniquely capable of supporting virtually every type of financial organization, including the largest and most complex institutions in the world. SunGard’s 13,000 employees proudly serve 14,000 customers in more than 100 countries, bringing fresh ideas and inventive solutions to help its customers adapt and thrive. www.sungard.com
About Silverlake Axis
Silverlake Axis Ltd is a leading provider of digital economy solutions and services for major organizations in Banking, Insurance, Payments, Retail and Logistics industries. The Group’s Silverlake Axis Software and Services Solutions are delivering operational excellence and enabling business transformations at over 100 organizations across Asia, including 40% of the largest banks in South East Asia. SAL has a 25 year track record of successfully delivering proven Financial Institution Class Core Software and is the core system platform partner of choice for 3 of the 5 largest ASEAN super regional financial institutions. www.silverlakeaxis.com
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Bahrain, Mumbai, Ho Chi Minh City, Hong Kong, Shanghai, Beijing, Seoul, and Tokyo. BDA was named M&A Advisory Firm of the Year at The ACG Champions Awards in 2015. BDA formed a partnership with William Blair & Company in 2011. www.bdapartners.com
BDA carries out its US securities business through BDA Advisors Inc., a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA’s UK subsidiary is authorised and regulated by the Financial Conduct Authority.
Invested $150m in Virtuos
Divested 100% stake to Audax-backed Mobileum
Divested CSS Corp
Divested majority stake to Cognizant
Divested Hyosung Capital to ST Leaders Private Equity
Acquired by NTT Communications
Investcorp invested up to $250m in China Everbright New Economy Fund
Divested Leyou to Warburg Pincus
Divested Apple World to ZIGExN
Divested Kingstar to Zhongping Capital
Growth capital raise
Divested its 48.08% equity stake in Netas to ZTE
Divested VNPT ePay to UTC Investment
Divested AFE Solutions to N2N Connect
Divested Adweek to Beringer Capital
Divested Yuanyu Radio Advertising to Management / Orient Securities
Acquried a controlling stake in Systran S.A.
Divested significant equity stake to The Riverside Company
Divested medical supply business to Halma in the UK
Divested Brilliam Film IP portfolio N&F, Korea