SunGard buys Advanced Portfolio Technologies

BANGALORE, INDIA: SunGard today announced that it has acquired Advanced Portfolio Technologies Inc. (APT), provider of risk management systems and portfolio optimization software.

The terms of agreement of the acquisition were not disclosed.

APT will become part of SunGard's alternative investments business.

Its analysis models and tools will complement SunGard's existing solutions for alternative investments such as Front Arena, Visual Portfolio Manager (VPM), Monis and Reech, Sun Guard said in a release.

Jamie Ridyard, chief operating officer at APT, will continue to manage the business that he has led for over ten years.

Emanuel Mond, president of SunGard's alternative investments business, said, "Our customers are being challenged to address the evolving needs of a shifting, more diverse client base. The acquisition of APT helps enhance our alternative investments business, offering our customers one of the widest choices of core functionality in the industry."

SunGard is a provider of software and processing solutions for financial services, higher education and the public sector.