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Sun Gard Data Systems Inc history
Sun Gard Data Systems Inc company history timeline
By 1985, disaster recovery services brought in 49 percent of the company's $58.5 million total revenues; financial processing software and services accounted for 47 percent.
In March 1986, the company went public on the NASDAQ exchange under the name SunGard Data Systems Inc.
By 1988, SunGard Recovery had "hot sites" in Chicago, San Diego, Philadelphia, St Paul, and London.
In 1989, SunGard merged with Daytron Corp., a large supplier of bank data processing software, and also purchased Warrington Financial Systems, Inc., a British supplier of bank treasury software, for $65.3 million in cash.
Despite increased competition, disaster recovery sales grew by over 30 percent in 1990, fueled by the earthquakes that shook California as well as several other natural disasters across the United States.
In 1991, investment support services brought in approximately 58 percent of the $262 million in sales.
That year, SunGard shares began trading on the London Stock Exchange and earnings rose 49 percent from 1992, to $38 million on revenues of $381 million.
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