SWIFT to acquire AMH assets from SunGard
First Published 31st December 1969
SWIFT acquires SunGards's Ambit Messaging Hub assets
Lázaro Campos, CEO, SWIFT: "We are delighted to welcome the AMH team into the SWIFT family - they have done a great job at building a business with real growth potential."
SWIFT (Society for Worldwide Interbank Financial
Telecommunication) and SunGard have announced the planned
acquisition by SWIFT of the assets of SunGard's Ambit Messaging
Hub (AMH) solution for high-volume financial messaging. The
transaction, which is subject to a number of closing conditions
that are expected to be fulfilled by the end of the quarter,
strengthens the relationship between the two companies as
SunGard's AvantGard Ecosystem Communication Hub (Echos) for
corporate-to-bank messaging is based on the AMH technology. The
transaction, the terms of which were not disclosed, is not
expected to have a material impact on SunGard's results.
The acquisition aims to extend SWIFT's connectivity portfolio as Ambit Messaging Hub is a modular, multi-network, high-volume financial messaging solution that can be tailored to an individual customer's needs with associated services. The solution will be marketed by SWIFT as AMH (Advanced Messaging Hub).
"We are delighted to welcome the AMH team into the SWIFT family - they have done a great job at building a business with real growth potential," commented Lázaro Campos, CEO of SWIFT. "AMH is an excellent addition to our existing interface portfolio. It is also a demonstration of how SWIFT is evolving its strategy and business model, building on its core competencies and underpinned by the right technology solutions. It is consistent with our SWIFT2015 strategy and has the firm backing of the Board."
Ken Dummitt, president of SunGard's AvantGard business unit, said, "This agreement strengthens the relationship
Ken Dummitt, president, SunGard's AvantGard business unit: "This agreement strengthens the relationship between SWIFT and SunGard ."
between SWIFT and SunGard. It brings together a combined network of more than 9,000 financial institutions and 2,500 corporations. For SunGard's corporate customers, it means they will have a single point of connectivity to their bank partners via SunGard's AvantGard Ecosystem Communication Hub (Echos), a messaging platform that shares the same underlying technology as SWIFT's AMH. Moving forward, SunGard will focus on corporate-to-bank connectivity and corporate-to-corporate connectivity."