SunGard has acquired XcitekSolutionsPlus (XSP). Terms of the deal were not disclosed.

XSP offers a range of deployed, hosted and SaaS-based solutions that help automate the corporate actions processing lifecycle, including data sourcing and cleansing, position monitoring, notification and response and entitlement processing. It will become part of SunGard’s capital markets business. XSP’s current chief executive, Brendan P. Farrell, Jr., will continue to lead the XSP team, reporting to John Grimaldi, head of the North American securities business for SunGard.

“This acquisition is an exciting step in the growth of XSP. We are already considered a leading provider of automated corporate actions processing solutions. Becoming part of SunGard will help us grow our global footprint and further enhance the breadth of our offering,” says Farrell, Jr.

John Grimaldi, executive vice president for SunGard’s North American securities business unit, comments: “Corporate actions processing is fundamental to the successful operations of most financial services firms, including sell-side traders, custodians, asset managers, hedge funds and wealth managers. These firms are at the heart of our business. The acquisition of XSP will help us deliver specialist corporate actions expertise and solutions to these core customers, and enhance our offering to our securities processing, accounting and servicing customers.”

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