SunGard to Buy FAME Information Services
SunGard Market Data Services signed a definitive agreement to purchase FAME Information Services, Inc., a New York-based provider of historical data management products, reference data management and services, and consulting to the financial, energy, and public sector industries. No terms were disclosed. The transaction is slated to take place in 1Q04 subject to regulatory review. The purchase is �not expected to have a material impact on SunGard's financial results, � according to the SunGard press release. To me, it looks like a logical extension of SunGard Market Data Services� attempts to bolster its straight-through-processing capabilities. It also puts them into a crowded field up against a competitor like Asset Control. Warburg Pincus, a private equity and venture capital firm, is the major shareholder in FAME. Last year, there were rumors linking FAME with a possible acquisition bid by Reuters that never happened. The FAME product suite and management team will join the SunGard Market Data Services group.