SpinOffs Message Board - Msg: 20670034

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Non-Tech : SpinOffs

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From: 249443	10/21/2004 10:58:35 AM
	of 85

SunGard Spinoff 10/21/04 News: SunGard Announces Record Results for Third Quarter 2004; Reaffirms Outlook; Businesses to Start from Position of Strength after Planned Spin-Off sungard.com "....On October 4, 2004, SunGard announced a plan to spin off its availability services business to stockholders through a tax-free distribution of shares. The spin-off is expected to be completed by the end of the first quarter of 2005, subject to customary conditions including the receipt of a favorable ruling from the Internal Revenue Service or an acceptable tax opinion. Mr. Conde said, "Our plan to separate the two businesses has sharpened our focus and sense of urgency. After the spin-off, the software and processing business and the availability services business will each be better able to pursue growth strategies that are optimized for its own industry. Each business will be starting out from a position of strength, assisted by SunGard's solid performance this quarter....."

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