Shearman & Sterling advised SunGard Data Systems Inc. (“SunGard”), one of the world’s leading software and technology services companies, on the tax-free split-off of its Availability Services business. As a result, Sungard Availability Services, a leading provider of information availability through managed IT, cloud and recovery services, is now a separate, independent company with approximately $1.4 billion in annual revenue and its own Board of Directors.

Shearman & Sterling also advised SunGard on its $11.3 billion acquisition by seven private equity funds led by Silver Lake Partners in 2005 and various other matters since then, including the sale of its Higher Education businesses in 2012 to affiliates of Hellman & Friedman LLC for an aggregate cash purchase price of $1.775 billion.

SunGard, with annual revenue of about $2.8 billion, provides software and processing solutions for financial services, education and the public sector. SunGard serves approximately 16,000 customers in more than 70 countries and has more than 13,000 employees.

The Team