Getting your Trinity Audio player ready...
SunGard purchase: SunGard Data Systems Inc. said it was acquiring Infinity Financial Technology Inc. for about $319 million in stock. Infinity markets software for financial trading and risk management to global organizations that manage complex financial assets, including some of the top financial institutions worldwide. In the transaction, each share of Infinity common stock will be exchanged for 0.68 share of SunGard. Based upon SunGard’s Friday trading price of $24.50, the purchase would amount to $318.7 million and value Infinity’s stock at $16.66.
