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Here Comes the Sun

May 7

Active acquirer SunGard Data (NYSE: SDS) recently announced its purchase of Collegis, a portfolio company of venture capital firm Frontenac and a provider of higher education IT solutions, terms undisclosed.

Collegis had become one of the more successful specialized vendors of technology services and software solutions to colleges and universities. The company will be merged into Sungardís Higher Education and Public Sector Systems (HEPSS) unit where it will join SCT, also in the higher education IT business, and that SunGard purchased last February for $590 million.

SunGard, with $3 billion in software and data processing sales, is best known for its broad range of products and services addressing the financial services industries, but the company has lately been seeking to dominate other verticals as well. Before these two buys into the education sector, SunGard bought energy industry transaction management specialist Caminus for $159 million and spent $121 million on HTE, a government and utility tech solutions firm.

In an interesting footnote to the Collegis deal, VC investor Frontenac retained ownership of a former Collegis unit called Collegis University Solutions, now renamed Deltak.edu, along with its management team headed up by Bob King. Deltak is a $20 million vendor of online college courses. In what must be a sort of record, Frontenac stated that the $25 million it plans to invest in Deltak is its fourth financing of a Bob King management team.

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