Date Posted: 8/17/2001
SunGard Bi-Tech Acquires Software Research Northwest
Partnership provides a single source solution to higher education
July 24, 2001
For Immediate Release:
Chico, CA. In a move that significantly broadens its higher education administration offering, SunGard Bi-Tech Inc. today announced the acquisition of Software Research Northwest, Inc. (SRN), based in Vashon Island, Washington. This move will integrate the industry's strongest endowment fund accounting solution with a very robust student administrative records system that has been installed at more than 100 colleges and universities throughout North America. Terms of the acquisition, which is not expected to have a material impact on SunGard's financial results, were not disclosed.
With this acquisition, SunGard Bi-Tech's product offering, the Integrated Financial and Administrative Solution, or IFAS, now provides colleges and universities a single-source solution for all financial, personnel, admissions, records, financial aid, alumni, and development needs. According to Aaron Johnson, president of SunGard Bi-Tech, "This new integrated solution offers colleges and universities a sound choice from a company with a long history of implementing systems on time and under budget."
Neither company is new to the higher education market. SunGard Bi-Tech fund accounting software has been serving higher education clients since 1980, while SRN's student administration software was first integrated and installed with the SunGard Bi-Tech system in 1982. "Over the years, our student administration software has developed with SunGard Bi-Tech's financial software. Together, we offer a seamless system," said Wayne E. Holt, president of SRN. SunGard Bi-Tech and SRN currently have 35 mutual clients including the University of Notre Dame, Wake Forest University and the University of Tampa.
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