SunGard has acquired Softputer Technologies’ FundBridge and NSARFiler solutions for financial and regulatory reporting.
The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard’s 2013 financial results.
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Softputer’s FundBridge is a web-based application that automates the process of creating financial reports for asset management firms and third-party administrators.
FundBridge’s automation helps ensure that these firms have the accurate and timely data needed to produce the schedules, investor documents and compliance reports required for mutual funds and alternative investment portfolios.
In the future, FundBridge and NSARFiler will look to support other reporting requirements, such as those posed by Form PF, Form CPO-PQR and AIFMD regulations.
Softputer’s FundBridge and NSARFiler will become part of SunGard’s asset management business and Softputer’s current chief executive, Art Sookiasian, will join SunGard.
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By GlobalDataArt Sookiasian, CEO at Softputer Technologies, said: "Joining SunGard elevates Softputer Technologies from a specialist, niche software provider to becoming an important part of a complete end-to-end solution for financial and regulatory reporting. The expanded solution that SunGard will offer will help better service both the traditional and alternative asset management industries."
Doug Morgan, president, institutional asset management business, SunGard, said: "The convergence of traditional and alternative asset management coupled with a growing regulatory environment has resulted in our customers seeking more efficient tools in order to ensure compliance. Softputer’s FundBridge and NSARFiler are logical extensions to our asset management offerings, which will help firms establish a more automated process around the data requirements for financial reporting."
