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SunGard Bought For $11.3 Billion
Largest Leverage Buyout In 15 Years

SunGard, a global leader in integrated software and processing solutions primarily for financial services and the pioneer and leading provider of information availability services, together with a consortium of seven leading private equity investment firms, announced today the execution of a definitive agreement under which the consortium will acquire SunGard in a transaction valued at approximately $11.3 billion. The acquiring consortium was organized by Silver Lake Partners and includes Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. L.P., Providence Equity Partners and Texas Pacific Group.

Under the terms of the agreement, SunGard stockholders will receive $36 in cash for each share of SunGard common stock they hold. SunGard's existing bonds in the principal amount of $500 million will remain outstanding. The board of directors of SunGard has approved the merger agreement and has recommended to SunGard's stockholders that they adopt the agreement. In light of this transaction, the board of directors of SunGard has determined not to implement the previously announced plan to spin off SunGard's Availability Services business.

The transaction is expected to be completed in the third quarter of 2005, subject to receipt of stockholder approval and customary regulatory approvals as well as satisfaction of other customary closing conditions. Cristóbal Conde, president and CEO of SunGard, said, "This transaction offers great value to our stockholders and represents an endorsement of our business model, industry leadership and financial strength. Our customers and employees should know that it is business as usual, now and following the completion of the transaction. The new investors in SunGard are world-leading private equity firms. They have a long-term view towards growing the businesses in which they invest and an excellent track record of working in partnership with management to build great companies."

Conde continued, "This transaction would not have been possible without the hard work of all our employees. They should be assured that the success of the transaction will depend on growing the business rather than eliminating jobs or reducing service levels. Upon completion of the transaction, our current senior management team will continue to lead the company, with corporate headquarters remaining in Wayne, Pennsylvania."

Glenn H. Hutchins, a cofounder and managing member of Silver Lake Partners, said, "Our consortium partners are extremely pleased with this investment. We have complete confidence in Cris Conde and his world-class leadership team at SunGard and believe the company has excellent prospects for continued technology leadership and growth. SunGard's track record of delivering mission-critical, value-enhancing technology solutions to the world's most important financial institutions is exceptional, and we look forward to working in partnership with the company to safeguard and extend that rich legacy. Our interests are aligned with the long-term interests of SunGard's customers and employees. SunGard will continue to focus on meeting the needs of all of its customers by delivering cutting-edge technologies and providing the very high level of service its customers are accustomed to receiving."

Hutchins added, "We at Silver Lake Partners are privileged to be in partnership with this distinguished group of private equity firms in this unprecedented transaction. Each partner in the consortium brings considerable and complementary expertise to this investment. It is a powerhouse group distinguished by unparalleled experience and the best track records in the private equity industry, joined together in a shared commitment to investing in SunGard as equal partners and working closely with the company's management and employees to maximize SunGard's potential."

About Jeremy Geelan
Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

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