The Wayne-based software giant SunGard has been split into two separate businesses after it couldn’t sell its SunGard Availability Services unit for a reported $2 billion, Philly.com reported in April.
The smaller of the two, SunGard AS posts $1.4 billion in sales of computer systems recovery and cloud computing services each year while its sister company, SunGard Data Inc., posts $2.8 billion in annual sales of financial and trading systems.
“We are entering a new era,” SunGard Data’s Russ Fradin said in the article.
Both businesses will still manage their thousands of employees and run their worldwide operations out of Wayne headquarters.
Read more about the breakup and the leadership assignments for each entity on Philly.com here.
