SunGard has announced the acquisition of Advanced Portfolio Technologies (APT), a provider of risk management systems and portfolio optimisation software for asset managers, hedge funds, pension funds, broker/dealers and proprietary traders.
The acquisition, terms of which were not disclosed, is "not expected to have a material impact" on SunGard's financial results, according to the firm.
APT will become part of SunGard's alternative investments business, and its analysis models and tools will be added to SunGard's existing offerings for alternative investments such as Front Arena, Visual Portfolio Manager, Monis and Reech.
Founded in 1985, APT's flagship multi-asset global risk model provides exploratory portfolio analysis, scenario analysis and portfolio optimisation.
Jamie Ridyard, chief operating officer at APT, will continue to manage the business he has led for over 10 years.
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