Apax in talks to acquire SunGard’s data management unit


data2_lrgPrivate equity firm Apax is reportedly in talks with SunGard Data Systems to acquire its data management unit.

SunGard is hoping to sell the business for $2bn, said Reuters, citing several people familiar with the matter.

The company has been unsuccessfully trying to find a suitor for the unit in the past several month and there is no guarantee an agreement with Apax will be reached, said the sources.

SunGard is backed by private equity firms Silver Lake, Bain Capital, Blackstone, Goldman Sachs Capital Partners, KKR, Providence Equity Partners and TPG, which acquired the business for $11.4bn in 2005.

The unit is part of SunGard’s availability services business, which accounted for a third of the company’s revenues of $4.26bn and EBITDA of $1.25bn last year.

Earlier this year Moody’s said that the availability service business “has not executed effectively in a recovery/business continuity industry that is otherwise showing growth.”

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