Wayne-based Sungard Availability Services has split from also Wayne-based parent company SunGard and is now an independent company, according to a release. Sungard AS, which provides managed IT, cloud and recovery services to about 7,000 clients, does $1.4 billion in annual sales.
Run by Andrew Stern, Sungard AS has 4,000 employees in offices around the country. About 800 Sungard AS employees work in the Philly area, including nearly 400 employees at Sungard AS’s two Wayne offices on Swedesford Road, more than 300 at 401 N. Broad Street and nearly 100 at its King of Prussia office, according to a company spokeswoman.
The company also launched a new logo to create a brand that’s separate from SunGard.
SunGard bought King of Prussia company Strohl Systems in 2008 and it — and its 2,000 customers — became part of Sungard AS, so what used to be Strohl will be part of this spinoff.
SunGard tried to sell Sungard AS for a reported $2 billion before spinning off the company, the Inquirer reported.
Join our growing Slack community
Join 5,000 tech professionals and entrepreneurs in our community Slack today!
Donate to the Journalism Fund
Your support powers our independent journalism. Unlike most business-media outlets, we don’t have a paywall. Instead, we count on your personal and organizational contributions.
You've heard the term 'valuation' on 'Shark Tank.' What does it actually mean?
From B2B to B2C — the storytelling shift economic development needs now
Seeking out authentic connections can help female founders land more investments
