SunGard Data Systems Inc, the Wayne, Pennsylvania-based disaster recovery and financial services software house, has struck an agreement to acquire FDP Corp in a stock transaction valued at $95m, based on SunGard’s January 15 closing price of $38.6875. Miami-based FDP develops and sells application software systems that handle the sales, marketing and administration functions of life insurance companies and employee benefit administrators. The company’s FDP/Vision offering integrates all of its product lines into a single suite for Windows 95, NT and Unix. Under the terms of the deal, each share of FDP common stock will be exchanged for between 0.4114 and 0.480 of a share of SunGard common stock depending on the average closing price of SunGard for a fixed period prior to closing. Michael Goldberg, the founder and chief executive officer of FDP, and his current team will continue to manage FDP as an independent company within SunGard. The transaction, which is expected to close during the first quarter will be accounted for as a pooling of interests and is not expected to have a material impact on SunGard’s financial results. á
