-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IKlKlSJrN0FuHgtCNE6WPaAumw09KFod2i2XW1ti2HyM8sccGRb46HF4IL6lrAy6 X+S9wJmoX2uHk1Yl/q8VSQ== 0000950123-10-098717.txt : 20101101 0000950123-10-098717.hdr.sgml : 20101101 20101101145321 ACCESSION NUMBER: 0000950123-10-098717 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20101101 DATE AS OF CHANGE: 20101101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard VPM Inc. CENTRAL INDEX KEY: 0000751340 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 222218561 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-02 FILM NUMBER: 101154561 BUSINESS ADDRESS: STREET 1: 1033 CLIFTON AVE CITY: CLIFTON STATE: NJ ZIP: 07013 BUSINESS PHONE: 2107780220 MAIL ADDRESS: STREET 1: 1660 WALT WHITMEN ROAD, SUITE 130 CITY: MELVILLE STATE: NY ZIP: 11747 FORMER COMPANY: FORMER CONFORMED NAME: INTEGRATED BUSINESS SYSTEMS INC DATE OF NAME CHANGE: 19840816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUNGARD DATA SYSTEMS INC CENTRAL INDEX KEY: 0000789388 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 510267091 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304 FILM NUMBER: 101154558 BUSINESS ADDRESS: STREET 1: SUNGARD DATA SYSTEMS INC STREET 2: 680 EAST SWEDESFORD RD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: 4845825512 MAIL ADDRESS: STREET 1: SUNGARD DATA SYSTEMS INC STREET 2: 680 EAST SWEDESFORD RD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SUNDATA CORP DATE OF NAME CHANGE: 19860310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Workflow Solutions LLC CENTRAL INDEX KEY: 0001355459 IRS NUMBER: 631019430 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-01 FILM NUMBER: 101154560 BUSINESS ADDRESS: STREET 1: 104 INVERNESS PLACE CITY: BIRMINGHAM STATE: AL ZIP: 35242 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Business Systems LLC CENTRAL INDEX KEY: 0001355463 IRS NUMBER: 232139612 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-31 FILM NUMBER: 101154578 BUSINESS ADDRESS: STREET 1: 5510 77 CENTER DRIVE CITY: CHARLOTTE STATE: NC ZIP: 28217 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard Trust Systems LLC DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard AvantGard LLC CENTRAL INDEX KEY: 0001355466 IRS NUMBER: 953440473 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-32 FILM NUMBER: 101154579 BUSINESS ADDRESS: STREET 1: 23975 PARK SORRENTO STREET 2: 4TH FLOOR CITY: CALABASAS STATE: CA ZIP: 91302 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard Treasury Systems Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Technology Services LLC CENTRAL INDEX KEY: 0001355468 IRS NUMBER: 232579118 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-04 FILM NUMBER: 101154563 BUSINESS ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Availability Services Ltd. CENTRAL INDEX KEY: 0001355469 IRS NUMBER: 233024711 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-33 FILM NUMBER: 101154581 BUSINESS ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Availability Services LP CENTRAL INDEX KEY: 0001355470 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 232106195 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-34 FILM NUMBER: 101154580 BUSINESS ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Asia Pacific Inc. CENTRAL INDEX KEY: 0001355472 IRS NUMBER: 510370861 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-35 FILM NUMBER: 101154582 BUSINESS ADDRESS: STREET 1: 601 WALNUT STREET STREET 2: SUITE 1010 CITY: PHILADELPHIA STATE: PA ZIP: 19106 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SRS Development Inc. CENTRAL INDEX KEY: 0001355489 IRS NUMBER: 232746281 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-37 FILM NUMBER: 101154583 BUSINESS ADDRESS: STREET 1: 1105 N. MARKET STREET STREET 2: SUITE 1412 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIS Europe Holdings LLC CENTRAL INDEX KEY: 0001355491 IRS NUMBER: 411511643 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-38 FILM NUMBER: 101154584 BUSINESS ADDRESS: STREET 1: 1105 N. MARKET STREET STREET 2: SUITE 1412 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SIS Europe Holdings Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Higher Education Managed Services Inc. CENTRAL INDEX KEY: 0001355493 IRS NUMBER: 232414968 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-19 FILM NUMBER: 101154553 BUSINESS ADDRESS: STREET 1: 2300 MAITLAND CENTER PARKWAY STREET 2: SUITE 340 CITY: MAITLAND STATE: FL ZIP: 32751 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard Collegis Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Development CORP CENTRAL INDEX KEY: 0001355508 IRS NUMBER: 232589002 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-27 FILM NUMBER: 101154574 BUSINESS ADDRESS: STREET 1: 1105 N. MARKET STREET STREET 2: SUITE 1412 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Computer Services LLC CENTRAL INDEX KEY: 0001355519 IRS NUMBER: 680499469 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-30 FILM NUMBER: 101154577 BUSINESS ADDRESS: STREET 1: 600 LAUREL ROAD CITY: VOORHEES STATE: NJ ZIP: 08043 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Financial Systems LLC CENTRAL INDEX KEY: 0001355520 IRS NUMBER: 232585361 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-42 FILM NUMBER: 101154555 BUSINESS ADDRESS: STREET 1: 601 SECOND AVENUE SOUTH CITY: HOPKINS STATE: MN ZIP: 55343 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard eProcess Intelligence LLC CENTRAL INDEX KEY: 0001355553 IRS NUMBER: 133217303 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-24 FILM NUMBER: 101154556 BUSINESS ADDRESS: STREET 1: 70 SOUTH ORANGE AVENUE CITY: LIVINGSTON STATE: NJ ZIP: 07039 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard eProcess Intelligence Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Consulting Services LLC CENTRAL INDEX KEY: 0001355554 IRS NUMBER: 870727844 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-29 FILM NUMBER: 101154576 BUSINESS ADDRESS: STREET 1: 10375 RICHMOND AVE STREET 2: SUITE 700 CITY: HOUSTON STATE: TX ZIP: 77042 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard Consulting Services Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard DIS Inc. CENTRAL INDEX KEY: 0001355555 IRS NUMBER: 232829670 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-26 FILM NUMBER: 101154591 BUSINESS ADDRESS: STREET 1: 1105 N. MARKET STREET STREET 2: SUITE 1412 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard CSA LLC CENTRAL INDEX KEY: 0001355556 IRS NUMBER: 204280640 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-28 FILM NUMBER: 101154575 BUSINESS ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Energy Systems Inc. CENTRAL INDEX KEY: 0001355557 IRS NUMBER: 134081739 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-25 FILM NUMBER: 101154557 BUSINESS ADDRESS: STREET 1: 601 WALNUT STREET STREET 2: SUITE 1010 CITY: PHILADELPHIA STATE: PA ZIP: 19106 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Public Sector Inc. CENTRAL INDEX KEY: 0001355600 IRS NUMBER: 592133858 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-12 FILM NUMBER: 101154571 BUSINESS ADDRESS: STREET 1: 1000 BUSINESS CENTER DRIVE CITY: LAKE MARY STATE: FL ZIP: 32746 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard HTE Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard iWORKS LLC CENTRAL INDEX KEY: 0001355601 IRS NUMBER: 232814630 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-16 FILM NUMBER: 101154550 BUSINESS ADDRESS: STREET 1: 11560 GREAT OAKS WAY STREET 2: SUITE 200 CITY: ALPHARETTA STATE: GA ZIP: 30022 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard Insurance Systems LLC DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Investment Systems LLC CENTRAL INDEX KEY: 0001355603 IRS NUMBER: 232115509 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-18 FILM NUMBER: 101154552 BUSINESS ADDRESS: STREET 1: 11 SALT CREEK LANE CITY: HINSDALE STATE: IL ZIP: 60521 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Investment Ventures LLC CENTRAL INDEX KEY: 0001355604 IRS NUMBER: 510297001 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-17 FILM NUMBER: 101154551 BUSINESS ADDRESS: STREET 1: 1105 N. MARKET STREET STREET 2: SUITE 1412 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Kiodex LLC CENTRAL INDEX KEY: 0001355605 IRS NUMBER: 134100480 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-14 FILM NUMBER: 101154573 BUSINESS ADDRESS: STREET 1: 340 MADISON AVENUE STREET 2: 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10173 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard Kiodex Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard NetWork Solutions Inc. CENTRAL INDEX KEY: 0001355606 IRS NUMBER: 232981034 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-13 FILM NUMBER: 101154572 BUSINESS ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Automated Securities Clearance LLC CENTRAL INDEX KEY: 0001355612 IRS NUMBER: 223701255 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-22 FILM NUMBER: 101154589 BUSINESS ADDRESS: STREET 1: 545 WASHINGTON BLVD STREET 2: 7TH FLOOR CITY: JERSEY CITY STATE: NJ ZIP: 07310 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Ambit LLC CENTRAL INDEX KEY: 0001355613 IRS NUMBER: 042766162 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-36 FILM NUMBER: 101154588 BUSINESS ADDRESS: STREET 1: 3 POST OFFICE SQUARE STREET 2: 11TH FLOOR CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: BancWare LLC DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Reference Data Solutions LLC CENTRAL INDEX KEY: 0001355614 IRS NUMBER: 721571745 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-11 FILM NUMBER: 101154570 BUSINESS ADDRESS: STREET 1: 888 SEVENTH AVENUE STREET 2: 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10106 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard Reference Data Solutions Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard SAS Holdings Inc. CENTRAL INDEX KEY: 0001355616 IRS NUMBER: 260052190 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-10 FILM NUMBER: 101154569 BUSINESS ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Higher Education Inc. CENTRAL INDEX KEY: 0001355618 IRS NUMBER: 232303679 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-20 FILM NUMBER: 101154554 BUSINESS ADDRESS: STREET 1: 4 COUNTRY VIEW ROAD CITY: MALVERN STATE: PA ZIP: 19355 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard SCT Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Securities Finance LLC CENTRAL INDEX KEY: 0001355620 IRS NUMBER: 133799258 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-09 FILM NUMBER: 101154568 BUSINESS ADDRESS: STREET 1: 12B MANOR PARKWAY CITY: SALEM STATE: NH ZIP: 03079 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Securities Finance International LLC CENTRAL INDEX KEY: 0001355622 IRS NUMBER: 133809371 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-08 FILM NUMBER: 101154567 BUSINESS ADDRESS: STREET 1: 12B MANOR PARKWAY CITY: SALEM STATE: NH ZIP: 03079 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SunGard Securities Finance International Inc. DATE OF NAME CHANGE: 20060308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Exeter Educational Management Systems, Inc. CENTRAL INDEX KEY: 0001355624 IRS NUMBER: 043123926 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-21 FILM NUMBER: 101154587 BUSINESS ADDRESS: STREET 1: 141 PORTLAND STREET CITY: CAMBRIDGE STATE: MA ZIP: 02139 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Software, Inc. CENTRAL INDEX KEY: 0001355625 IRS NUMBER: 510287708 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-06 FILM NUMBER: 101154565 BUSINESS ADDRESS: STREET 1: 1105 NORTH MARKET STREET STREET 2: SUITE 1412 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Systems International Inc. CENTRAL INDEX KEY: 0001355628 IRS NUMBER: 232490902 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-05 FILM NUMBER: 101154564 BUSINESS ADDRESS: STREET 1: 560 LEXINGTON AVENUE STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Inflow LLC CENTRAL INDEX KEY: 0001355630 IRS NUMBER: 841439489 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-40 FILM NUMBER: 101154586 BUSINESS ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Online Securities Processing Inc. CENTRAL INDEX KEY: 0001355637 IRS NUMBER: 770589377 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-39 FILM NUMBER: 101154585 BUSINESS ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard Shareholder Systems LLC CENTRAL INDEX KEY: 0001355651 IRS NUMBER: 232025519 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-07 FILM NUMBER: 101154566 BUSINESS ADDRESS: STREET 1: 951 MARINERS ISLAND BLVD STREET 2: 5TH FLOOR CITY: SAN MATEO STATE: CA ZIP: 94404 BUSINESS PHONE: (484) 582-2000 MAIL ADDRESS: STREET 1: 680 EAST SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard iWORKS P&C (US) Inc. CENTRAL INDEX KEY: 0001394170 IRS NUMBER: 133248040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-15 FILM NUMBER: 101154549 BUSINESS ADDRESS: STREET 1: 200 BUSINESS DRIVE PARK CITY: ARMONK STATE: NY ZIP: 10504 BUSINESS PHONE: 905-275-2299 MAIL ADDRESS: STREET 1: 200 BUSINESS DRIVE PARK CITY: ARMONK STATE: NY ZIP: 10504 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Advanced Portfolio Technologies, Inc. CENTRAL INDEX KEY: 0001431227 IRS NUMBER: 223245876 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-23 FILM NUMBER: 101154590 BUSINESS ADDRESS: STREET 1: 90 BROAD STREET CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 484-582-5530 MAIL ADDRESS: STREET 1: 680 E. SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SunGard VeriCenter, Inc. CENTRAL INDEX KEY: 0001431230 IRS NUMBER: 760624039 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-03 FILM NUMBER: 101154562 BUSINESS ADDRESS: STREET 1: 680 E. SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: 484-582-5530 MAIL ADDRESS: STREET 1: 680 E. SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GL Trade Overseas, Inc. CENTRAL INDEX KEY: 0001489071 IRS NUMBER: 061414402 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-166304-41 FILM NUMBER: 101154559 BUSINESS ADDRESS: STREET 1: 340 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10173 BUSINESS PHONE: 484-582-2000 MAIL ADDRESS: STREET 1: 680 E. SWEDESFORD ROAD CITY: WAYNE STATE: PA ZIP: 19087 424B3 1 c07480e424b3.htm 424(B)(3) 424(b)(3)

FILED PURSUANT TO RULE 424(B)(3)
File Number 333-166304
SUNGARD DATA SYSTEMS INC.
SUPPLEMENT NO. 3 TO
MARKET-MAKING PROSPECTUS DATED JUNE 18, 2010

THE DATE OF THIS SUPPLEMENT IS NOVEMBER 1, 2010

ON OCTOBER 29, 2010, SUNGARD DATA SYSTEMS INC. FILED THE ATTACHED
FORM 10-Q FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2010

 


 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 28, 2010
Commission file numbers:
         
    SunGard Capital Corp.   000-53653
    SunGard Capital Corp. II   000-53654
    SunGard Data Systems Inc.   1-12989
 
SunGard® Capital Corp.
SunGard® Capital Corp. II
SunGard® Data Systems Inc.
(Exact name of registrant as specified in its charter)
 
     
Delaware
Delaware
Delaware
(State or other jurisdiction of
incorporation or organization)
  20-3059890
20-3060101
51-0267091
(IRS Employer
Identification No.)
Not Applicable
(Former Name and Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 


 

Item 2.02. Results of Operations and Financial Condition.
SunGard Data Systems Inc. (“SunGard”) is an indirect wholly owned subsidiary of SunGard Capital Corp II, which is a subsidiary of SunGard Capital Corp. On October 28, 2010, SunGard issued a press release announcing its financial results for the quarter ended September 30, 2010. A copy of the press release is furnished as Exhibit 99.1 to this report. The information in this Item 2.02, including the Exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
         
  99.1:    
Press Release, dated October 28, 2010, issued by SunGard Data Systems Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  SUNGARD CAPITAL CORP.
SUNGARD CAPITAL CORP. II
 
 
Date: October 28, 2010  By:   /s/ Robert F. Woods    
    Robert F. Woods   
    Executive Vice President and
Chief Financial Officer 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  SUNGARD DATA SYSTEMS INC.
 
 
Date: October 28, 2010  By:   /s/ Robert F. Woods    
    Robert F. Woods   
    Senior Vice President-Finance and
Chief Financial Officer 
 

 

 


 

EXHIBIT INDEX
The following is a list of Exhibits furnished with this report.
         
Exhibit No.   Description
       
 
  99.1:    
Press Release, dated October 28, 2010, issued by SunGard Data Systems Inc.

 

 


 

Exhibit 99.1
(SUNGARD LOGO)
         
For more information, contact:
       
 
       
Henry Miller
  Eric Erickson   Brian Robins
Tel: 484-582-5445
  Tel: 484-582-5480   Tel: 646-445-8347
henry.miller@sungard.com
  eric.erickson@sungard.com   brian.robins@sungard.com
SunGard Announces Third Quarter 2010 Results
Wayne, PA — October 28, 2010 — SunGard, one of the world’s leading software and technology services companies, today reported results for the third quarter ended September 30, 2010. For the quarter, revenue was $1.24 billion, down 7% year over year. Adjusted EBITDA was $338 million, down 10%, and adjusted income from operations was $251 million, down 16%. Excluding the results of one of our trading systems businesses, a broker/dealer, revenue was down 2%. Adjusted EBITDA and adjusted income from operations are defined in Notes 1 and 2 in the Notes attached to this release.
For the third quarter, the Company reported a loss from operations of $219 million, including a $328 million noncash write-down of goodwill which represents approximately 5% of our total goodwill balance, compared to reported income from operations of $132 million in the third quarter of 2009 which had no such write-down of goodwill. Reported results in both periods include amortization of acquired intangible assets, stock-based compensation, purchase accounting adjustments, and other expenses which are excluded from adjusted income from operations.
Organic revenue (defined as revenue from businesses owned for at least one year and adjusted for both businesses sold in the previous twelve months and the impact of currency exchange rates) was down 6% in the third quarter. Excluding the results of the broker/dealer business mentioned above, organic revenue was flat year over year. This broker/dealer revenue was down 67% compared to the prior year due primarily to the industry-wide dynamic by which active trading firms are opting to become broker/dealers and trade on their own behalf. See Note 3 in the Notes attached to this release.
Cristóbal Conde, president and chief executive officer, commented, “In the quarter, we continued to see solid organic revenue growth in our FS business excluding one of our broker/dealer businesses. While the business outlook showed signs of improvement in the first half of the year, our customers are still cautious about the outlook and are focused on reducing the costs of their core platforms and capturing more value from their existing systems. Our industry knowledge, services-led approach to creating value for our customers, and mission-critical software are helping to differentiate us in a very challenging environment.”

 

 


 

(SUNGARD LOGO)
For the nine months ended September 30, 2010, revenue decreased 6% to $3.79 billion. Adjusted EBITDA was $994 million and adjusted income from operations was $737 million. The Company reported a loss from operations of $19 million, including the $328 million noncash write-down of goodwill, compared to reported income from operations of $366 million for the prior period which had no such write-down of goodwill. Excluding the broker/dealer business mentioned above, revenue was up 2% compared to the first nine months of 2009.
Financial Systems revenue decreased 9% to $659 million in the third quarter. Organic revenue decreased 8%. Excluding the broker/dealer business mentioned above, revenue was up 2% and organic revenue was up 3%. License fees were $33 million, a decrease of $5 million compared to the third quarter of 2009.
Notable deals in the quarter included the following:
    A global capital markets firm selected SunGard’s solutions for securities processing including Clearvision, Fame, GMI, Phase3 and Stream.
    One of the world’s largest equipment rental companies selected SunGard’s AvantGard to help automate its order-to-cash operations.
    A leading global financial services firm selected SunGard’s WealthStation to help it meet new regulatory and reporting requirements.
Higher Education revenue decreased 3% to $121 million in the third quarter. License fees were $7 million, a decrease of $1 million compared to the third quarter of 2009.
Notable deals in the quarter included the following:
    A public doctoral/research university in Indiana selected SunGard’s Banner Digital Campus and hosting services.
    A community and technical college system in Louisiana selected SunGard’s Banner Digital Campus and technology outsourcing.
    A private university in Maine extended its relationship with SunGard to manage its information technology.
Public Sector revenue decreased 7% to $96 million in the third quarter. License fees were $4 million, a decrease of $2 million compared to the third quarter of 2009.
Notable deals in the quarter included the following:
    A school district in Ohio selected SunGard’s student information management system as well as finance and human resources solutions.
    A public body in the UK that provides national services to support frontline policing renewed a support contract with SunGard for case preparation and custody services.
    A borough council in the UK extended a contract with SunGard to provide managed services for information and communications technology.

 

 


 

(SUNGARD LOGO)
Availability Services revenue decreased 5% to $366 million in the third quarter.
Notable deals in the quarter included the following:
    A leading provider of integrated payment solutions, marketing services and security selected SunGard for advanced recovery services.
    A biopharmaceutical company selected SunGard for co-location and recovery services.
    A Canadian financial services organization extended its relationship with SunGard to include managed recovery services.
Financial Position
At September 30, 2010, total debt was $8.3 billion and cash balances were $787 million. During the nine months ended September 30, 2010, the Company generated $433 million in cash flow from operations, invested $223 million in capital expenditures, and spent $62 million on acquisitions net of acquired cash.
Conference Call & Webcast
A conference call to review the results is scheduled for today at 9:00 a.m. (Eastern Time). The dial-in number for the conference call is 706-902-1370, and the conference ID number is 19022558. You may also listen to the call at www.investorcalendar.com by clicking on the “audio” icon for SunGard. An audio replay will be available two hours after the call ends through midnight on November 11, 2010. To listen to the replay, please dial 1-800-642-1687 or 706-645-9291 and enter the conference ID number 19022558. A replay will also be available two hours after the call ends through midnight on November 11, 2010 at www.investorcalendar.com.
About SunGard
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, please visit www.sungard.com.
Trademark Information: SunGard, the SunGard logo, AvantGard, Banner, Clearvision, Fame, GMI, Phase3, Stream and WealthStation are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.

 

 


 

(SUNGARD LOGO)
SunGard’s “Safe Harbor” Statement under Private Securities Litigation Reform Act of 1995
Statements in this release other than historical facts constitute forward-looking statements. You can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “would,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” or “anticipates” or similar expressions which concern our strategy, plans or intentions. All statements we make relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. All of these forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those we expected. We derive most of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. Some of the factors that we believe could affect our results include: our high degree of leverage; general economic and market conditions; the overall condition of the financial services industry, including the effect of any further consolidation among financial services firms; the integration of acquired businesses, the performance of acquired businesses, and the prospects for future acquisitions; the effect of war, terrorism, natural disasters or catastrophic events; the effect of disruptions to our systems and infrastructure; the timing and magnitude of software sales; the timing and scope of technological advances; customers taking their information availability solutions in-house; the trend in information availability toward solutions utilizing more dedicated resources; the market and credit risks associated with clearing broker operations; the ability to retain and attract customers and key personnel; risks relating to the foreign countries where we transact business; the ability to obtain patent protection and avoid patent-related liabilities in the context of a rapidly developing legal framework for software and business-method patents; and a material weakness in our internal controls. The factors described in this paragraph and other factors that may affect our business or future financial results are discussed in our periodic filings with the Securities and Exchange Commission, copies of which may be obtained from us without charge. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

 

 


 

SunGard Data Systems Inc.
Consolidated Statements of Operations
(in millions)
(Unaudited)
                 
    Three Months Ended  
    Sep. 30,     Sep. 30,  
    2009     2010  
Revenue:
               
Services
  $ 1,198     $ 1,130  
License and resale fees
    93       82  
 
           
Total products and services
    1,291       1,212  
Reimbursed expenses
    46       30  
 
           
 
    1,337       1,242  
 
           
 
               
Costs and expenses:
               
Cost of sales and direct operating
    629       568  
Sales, marketing and administration
    266       275  
Product development
    86       89  
Depreciation and amortization
    74       73  
Amortization of acquisition-related intangible assets
    150       126  
Goodwill impairment charges and merger and other costs
          330  
 
           
 
    1,205       1,461  
 
           
Income (loss) from operations
    132       (219 )
Interest income
    5       1  
Interest expense and amortization of deferred financing fees
    (165 )     (160 )
Other expense
    (15 )     (10 )
 
           
Loss before income taxes
    (43 )     (388 )
Benefit from income taxes
    3       10  
 
           
Net loss
  $ (40 )   $ (378 )
 
           
SunGard Data Systems Inc.
Consolidated Statements of Operations
(in millions)
(Unaudited)
                 
    Nine Months Ended  
    Sep. 30,     Sep. 30,  
    2009     2010  
Revenue:
               
Services
  $ 3,687     $ 3,408  
License and resale fees
    236       285  
 
           
Total products and services
    3,923       3,693  
Reimbursed expenses
    118       96  
 
           
 
    4,041       3,789  
 
           
Costs and expenses:
               
Cost of sales and direct operating
    1,999       1,764  
Sales, marketing and administration
    798       836  
Product development
    258       278  
Depreciation and amortization
    215       220  
Amortization of acquisition-related intangible assets
    404       371  
Goodwill impairment charges and merger and other costs
    1       339  
 
           
 
    3,675       3,808  
 
           
Income (loss) from operations
    366       (19 )
Interest income
    6       2  
Interest expense and amortization of deferred financing fees
    (471 )     (479 )
Other income
    6       4  
 
           
Loss before income taxes
    (93 )     (492 )
Benefit from income taxes
    12       39  
 
           
Net loss
  $ (81 )   $ (453 )
 
           
See Notes to Consolidated Condensed Financial Information.

 

 


 

SunGard Data Systems Inc.
Consolidated Condensed Balance Sheets
(in millions)
(Unaudited)
                 
    Dec. 31,     Sep. 30,  
    2009     2010  
Assets:
               
Current:
               
Cash and cash equivalents
  $ 664     $ 787  
Accounts receivable, net
    1,136       994  
Clearing broker assets
    332       240  
Prepaid expenses and other current assets
    211       190  
 
           
Total current assets
    2,343       2,211  
Property and equipment, net
    925       907  
Software products, net
    1,020       867  
Customer base, net
    2,294       2,111  
Other assets, net
    1,220       1,195  
Goodwill
    6,178       5,838  
 
           
Total Assets
  $ 13,980     $ 13,129  
 
           
 
               
Liabilities and Stockholder’s Equity:
               
Current:
               
Short-term and current portion of long-term debt
  $ 64     $ 64  
Accounts payable and accrued expenses
    950       830  
Clearing broker liabilities
    294       201  
Deferred revenue
    1,040       975  
 
           
Total current liabilities
    2,348       2,070  
Long-term debt
    8,251       8,234  
Deferred income taxes
    1,314       1,216  
 
           
Total liabilities
    11,913       11,520  
Stockholder’s equity
    2,067       1,609  
 
           
Total Liabilities and Stockholder’s Equity
  $ 13,980     $ 13,129  
 
           
See Notes to Consolidated Condensed Financial Information.

 

 


 

SunGard Data Systems Inc.
Consolidated Condensed Statements of Cash Flows
(in millions)
(Unaudited)
                 
    Nine Months Ended  
    Sept. 30,     Sept. 30,  
    2009     2010  
Cash flow from operations:
               
Cash flow provided by operations
  $ 364     $ 433  
 
           
 
               
Investment activities:
               
Cash paid for acquired businesses, net of cash acquired
    (12 )     (62 )
Cash paid for property and equipment and software
    (255 )     (223 )
Other investing activities
    3       10  
 
           
Cash used in investment activities
    (264 )     (275 )
 
           
 
               
Financing activities:
               
Cash received from other borrowings, net of fees
    211       22  
Cash used to repay debt
    (814 )     (51 )
Other financing activities
    (5 )     (4 )
 
           
Cash used in financing activities
    (608 )     (33 )
 
           
 
               
Effect of exchange rate changes on cash
    12       (2 )
 
           
 
               
Increase (decrease) in cash and cash equivalents
    (496 )     123  
Beginning cash and cash equivalents
    975       664  
 
           
Ending cash and cash equivalents
  $ 479     $ 787  
 
           

 

 


 

SunGard Data Systems Inc.
Notes to Consolidated Condensed Financial Information (Unaudited)
Note 1. Reconciliation of Net Income (Loss) to EBITDA and Reconciliation of EBITDA to Adjusted EBITDA
EBITDA represents net income (loss) before interest expense, income taxes, depreciation and amortization and goodwill impairment. Adjusted EBITDA is defined as EBITDA further adjusted to give effect to certain items that are required in calculating covenant compliance under our senior and senior subordinated notes as well as under our senior secured credit facilities, which were entered into in August 2005 and our senior notes entered into in September 2008. Adjusted EBITDA is calculated by subtracting from or adding to EBITDA items of income or expense described below. EBITDA and Adjusted EBITDA are not recognized terms under generally accepted accounting principles (GAAP). EBITDA and Adjusted EBITDA do not represent net income (loss), as that term is defined under GAAP, and should not be considered as an alternative to net income (loss) as an indicator of our operating performance. Additionally, EBITDA and Adjusted EBITDA are not intended to be measures of free cash flow available for management or discretionary use as such measures do not consider certain cash requirements such as capital expenditures (including capitalized software expense), tax payments and debt service requirements. SunGard considers EBITDA and Adjusted EBITDA to be key indicators of our ability to pay our debt. EBITDA and Adjusted EBITDA as presented herein are not necessarily comparable to similarly titled measures. The following is a reconciliation of EBITDA and Adjusted EBITDA to net income (loss), the GAAP measure we believe to be most directly comparable to EBITDA and Adjusted EBITDA. Further information regarding this reconciliation is included in our periodic filings with the U.S. Securities and Exchange Commission.
                         
                    Last Twelve  
    Three Months Ended     Months  
    Sep. 30,     Sep. 30,     Sep. 30,  
(in millions)   2009     2010     2010  
 
                       
Net loss
  $ (40 )   $ (378 )   $ (1,490 )
Interest expense, net
    160       159       642  
Benefit from income taxes
    (3 )     (10 )     (100 )
Depreciation and amortization
    224       199       803  
Goodwill impairment charge
          328       1,454  
 
                 
EBITDA
    341       298       1,309  
 
                       
Purchase accounting adjustments
    5       3       14  
Non-cash charges
    8       9       42  
Restructuring and other charges
    4       12       57  
Acquired EBITDA, net of disposed EBITDA
    1             6  
Pro forma expense savings related to acquisitions
    1       1       3  
Other
    17       15       6  
 
                 
Adjusted EBITDA — senior secured credit facilities, senior notes due 2013 and 2015 and senior subordinated notes due 2015
  $ 377     $ 338     $ 1,437  
 
                 
                 
    Nine Months Ended  
    Sep. 30,     Sep. 30,  
(in millions)   2009     2010  
 
               
Net loss
  $ (81 )   $ (453 )
Interest expense, net
    465       477  
Benefit from income taxes
    (12 )     (39 )
Depreciation and amortization
    619       591  
Goodwill impairment charge
          328  
 
           
EBITDA
    991       904  
 
               
Purchase accounting adjustments
    13       10  
Non-cash charges
    25       30  
Restructuring and other charges
    21       37  
Acquired EBITDA, net of disposed EBITDA
    2       5  
Pro forma expense savings related to acquisitions
    3       2  
Other
    6       6  
 
           
Adjusted EBITDA — senior secured credit facilities, senior notes due 2013 and 2015 and senior subordinated notes due 2015
  $ 1,061     $ 994  
 
           

 

 


 

SunGard Data Systems Inc.
Notes to Consolidated Condensed Financial Information (Unaudited)
Note 2. Reconciliation of Income from Operations to Adjusted Income from Operations
Adjusted income from operations represents income from operations adjusted for goodwill impairment charges, amortization of acquisition-related intangible assets, merger costs, purchase accounting adjustments for deferred revenue, stock-based compensation expense and management fee expense. Adjusted income from operations is not a recognized term under generally accepted accounting principles (GAAP). Adjusted income from operations does not represent income from operations, as that term is defined under GAAP, and should not be considered as an alternative to income from operations as an indicator of our operating performance. We have included information concerning adjusted income from operations because we use such information when evaluating income from operations to better evaluate the underlying performance of the Company. Adjusted income from operations as presented herein is not necessarily comparable to similarly titled measures. Beginning in 2007, the Company began to experience significant revenue growth in one of our trading systems businesses, a broker/dealer business with inherently lower margins than the rest of the financial systems business, and whose revenue is a function of market volatility and customer mix. The following is a reconciliation between adjusted income from operations and income from operations, the GAAP measure we believe to be most directly comparable to adjusted income from operations, both including and excluding the broker/dealer business.
                         
    Three Months Ended  
    Sep. 30, 2009  
    Including             Excluding  
    Broker/Dealer     Broker/Dealer     Broker/Dealer  
(in millions)   Business     Business     Business  
Income from operations
  $ 132     $ 7     $ 125  
 
                       
Amortization of acquisition-related intangible assets
    150       1       149  
Purchase accounting adjustments
    6             6  
Stock-based compensation and other costs
    12             12  
 
                 
Adjusted income from operations
  $ 300     $ 8     $ 292  
 
                 
                         
    Three Months Ended  
    Sep. 30, 2010  
    Including             Excluding  
    Broker/Dealer     Broker/Dealer     Broker/Dealer  
(in millions)   Business     Business     Business  
Loss from operations
  $ (219 )   $ (10 )   $ (209 )
 
                       
Amortization of acquisition-related intangible assets
    126             126  
Goodwill impairment charge and merger costs
    330             330  
Purchase accounting adjustments
    4             4  
Stock-based compensation and other costs
    10             10  
 
                 
Adjusted income (loss) from operations
  $ 251     $ (10 )   $ 261  
 
                 
                         
    Nine Months Ended  
    Sep. 30, 2009  
    Including             Excluding  
    Broker/Dealer     Broker/Dealer     Broker/Dealer  
(in millions)   Business     Business     Business  
Income from operations
  $ 366     $ 29     $ 337  
 
                       
Amortization of acquisition-related intangible assets
    404       3       401  
Merger Costs
    1             1  
Purchase accounting adjustments
    13             13  
Stock-based compensation and other costs
    33             33  
 
                 
Adjusted income from operations
  $ 817     $ 32     $ 785  
 
                 
                         
    Nine Months Ended  
    Sep. 30, 2010  
    Including             Excluding  
    Broker/Dealer     Broker/Dealer     Broker/Dealer  
(in millions)   Business     Business     Business  
Income (loss) from operations
  $ (19 )   $ (30 )   $ 11  
 
                       
Amortization of acquisition-related intangible assets
    371       2       369  
Goodwill impairment charge and merger costs
    339       8       331  
Purchase accounting adjustments
    11             11  
Stock-based compensation and other costs
    35             35  
 
                 
Adjusted income (loss) from operations
  $ 737     $ (20 )   $ 757  
 
                 

 

 


 

SunGard Data Systems Inc.
Notes to Consolidated Condensed Financial Information (Unaudited)
Note 3. Impact of Broker/Dealer on Organic Revenue Growth
The Company defines organic revenue as revenue from businesses owned for at least one year and excluding revenue from businesses sold in the previous twelve months further adjusted to remove the impact of changes in currency exchange rates. When assessing its financial results, the Company focuses on organic revenue because reported revenue is affected by the timing and magnitude of acquisitions, dispositions and currency. Beginning in 2007, the Company began to experience significant revenue growth in one of our trading systems businesses, a broker/dealer business with inherently lower margins than the rest of the financial systems business, and whose revenue is a function of market volatility and customer mix. Reported revenue and organic revenue growth with and without the broker/dealer business for the total Company and Financial Systems for 2008, 2009 and 2010 follows:
                                                                         
            Quarter ended             Quarter Ended  
    2008     Mar-09     Jun-09     Sep-09     Dec-09     2009     Mar-10     Jun-10     Sep-10  
Revenue growth as reported:
                                                                       
Total SunGard
    14 %     3 %     1 %     -4 %     -5 %     -2 %     -6 %     -5 %     -7 %
Financial Systems
    23 %     8 %     8 %     -6 %     -8 %     0 %     -11 %     -8 %     -9 %
 
                                                                       
Revenue growth as reported without broker/dealer business:
                                                                       
Total SunGard
    8 %     -2 %     -5 %     1 %     0 %     -1 %     3 %     4 %     -2 %
Financial Systems
    11 %     0 %     -3 %     4 %     0 %     0 %     7 %     8 %     2 %
 
                                                                       
Organic revenue growth:
                                                                       
Total SunGard
    10 %     3 %     0 %     -7 %     -7 %     -3 %     -9 %     -4 %     -6 %
Financial Systems
    17 %     4 %     2 %     -15 %     -10 %     -5 %     -13 %     -7 %     -8 %
 
                                                                       
Organic revenue growth without broker/dealer business:
                                                                       
Total SunGard
    4 %     -1 %     -6 %     -2 %     -3 %     -3 %     0 %     4 %     0 %
Financial Systems
    5 %     -5 %     -10 %     -7 %     -3 %     -6 %     4 %     10 %     3 %

 

 

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