SunGard reached an agreement with Bridge Information Systems, currently under Chapter 11 bankruptcy protection, late on Friday to purchase certain assets of the US company not including the European and Asian operations.
SunGard proposes to buy the Bridge information business, the EJV bond data and analytics business, and the BridgeNews LiveWire Company News service for institutional and retail brokerage markets in the US as well as the Bridge Trading Company brokerage business and the eBridge internet software. SunGard, the IT solutions and e-processing solutions giant, is offering up to $165m (€185m) with no assumption of debt.