Atlanta, GA – Nov 20, 2007 – SunGard (http://www.sungard.com) today announced that it has acquired DSPA Software Inc., a leading supplier of sales compensation and distribution management software to the insurance industry. DSPA Software Inc. will become part of SunGard�s insurance business (http://www.sungard.com/iWORKS). The transaction, the terms of which were not disclosed, is not expected to have a material impact on SunGard�s financial results.
DSPA Software Inc. offers FASAT, a comprehensive distribution management and incentive compensation management (ICM) software solution for the life insurance industry. FASAT helps customers to manage evolving distribution channels, support growing product lines, and improve operational efficiencies. FASAT�s rule-based structure and flexible component definition helps insurance companies respond rapidly to new product and distribution initiatives by minimizing dependence on traditional system development. SunGard will continue to offer FASAT for use by life insurers and as a complementary solution to SunGard’s range of existing applications serving the life insurance industry.
Scott Peart, president of DSPA, said, �We are pleased to be part of SunGard�s insurance business and look forward to leveraging the company�s global resources, stability and strength to continue to grow FASAT.�
Greg Webber, president of SunGard�s insurance business, said, �FASAT adds a comprehensive distribution and ICM software solution to SunGard�s iWORKS suite of solutions for the insurance industry. It extends the breadth of functionality we can offer to our customers.�
About SunGard iWORKS
SunGard�s iWORKS is a business-driven IT product family for the insurance industry in each of the following major business lines: life/health/annuities/pensions, property and casualty and reinsurance. SunGard iWORKS offers a range of products and services including front-office tools, policy administration, reinsurance, actuarial calculations, financial accounting, investment accounting, and reporting. SunGard partners with customers to deliver products and services that align with changing business and regulatory needs.
With annual revenue exceeding $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world�s 50 largest financial services companies. Visit SunGard at www.sungard.com.