SunGard Data Systems Inc. Acquires Sterling Wentworth Corp

Business Wire, Feb 18, 1999

WAYNE, Pa.--(BUSINESS WIRE)--Feb. 18, 1999--SunGard Data Systems Inc. (NYSE:SDS) announced today that it has acquired Utah-based Sterling Wentworth Corp. ("SWC").

The acquisition will be accounted for as a pooling of interests. Terms of the acquisition, which is not expected to have a material impact on SunGard's financial results, were not disclosed.

SWC designs, develops and markets enterprise sales productivity solutions for the financial services industry, specifically insurance, banking and brokerage companies. Utilizing knowledge-based call centers, the Internet and interaction technologies, systems are designed for prospecting, client profiling, needs analysis and cross-selling.

Over 100,000 sales professionals around the world currently use SWC applications, including brokerage firms, many of the largest insurance companies in North America, and numerous banking institutions.

James L. Mann, chairman and chief executive officer of SunGard, said of the merger, "The Sterling Wentworth team is a perfect fit for SunGard. As one of the largest suppliers of needs-analysis and advisory-based software systems, SWC will enhance SunGard's outstanding array of products for the financial services market.

"There is strong demand for software that increases sales productivity and provides customers with the infrastructure to participate in the financial markets of the future."

Gary Williams, president of Sterling Wentworth, and his executive team will continue to manage SWC as an independent company within the SunGard Brokerage Systems Group. Williams added, "Joining SunGard is a very positive step for our customers and employees.

"Our mission remains the same: to develop and market systems that bring financial services salespeople closer to their clients, so they can better target and cross-sell other products and services. Our applications are well positioned to be integrated into Plaid Brothers and SunGard's other numerous brokerage, banking, and insurance processing systems."

SunGard's business is computer service and application software. The Company is the only large specialized provider of proprietary investment support systems, and is the pioneer and a leading provider of comprehensive computer disaster recovery services. SunGard Data Systems Inc. common stock is reported on the New York Stock Exchange under the symbol SDS.

"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995

Statements about the Company's 1999 outlook and all other statements in this release other than historical facts are forward-looking statements. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.

The Company derives most of its forward-looking statements from its operating budgets and forecasts, which are based upon many detailed assumptions.

While the Company believes that its assumptions are reasonable, it cautions that there are inherent difficulties in predicting certain important factors, especially the timing and magnitude of software sales, the effect of year 2000 issues on software and services buying decisions, the timing and scope of technological advances and year 2000 compliance, the integration and performance of acquired businesses, the prospects for future acquisitions, and the overall condition of the financial services industry.

These factors, as and when applicable, are discussed in the Company's filings with the Securities and Exchange Commission, including its most recent Form 10-K, a copy of which may be obtained from the Company without charge.