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SunGard Agrees To Acquire Sherwood

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NU Online News Service, July 10, 2003, 12:45 p.m. EDT – SunGard Data Systems Inc., Wayne, Pa., a financial services software company, has agreed to acquire Sherwood International P.L.C., London, an insurance software company, for about $105 million.

Sherwood sells software for life insurance and annuity operations as well as property-casualty and reinsurance businesses.

SunGard needs approval from Sherwood shareholders to proceed with the acquisition. It hopes to complete the deal in two months.


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