Silverlake Axis acquiring SunGard Ambit (S) for US$12m

Singapore

MAINBOARD-listed Silverlake Axis is buying SunGard Ambit (Singapore), or SAS, for US$12 million to expand its suite of software and services as well as deepen and broaden its customer relationships and geographical presence.

The consideration of US$12 million is on a willing-buyer, willing-seller basis and will be paid in cash on completion, subject to certain working capital and net assets/liabilities adjustments. On an immediate basis, the acquisition is expected to contribute about 15 per cent to the revenue of the enlarged Silverlake Axis Group.