Silverlake Axis Ltd Acquires SunGard Ambit (Singapore)

Singapore, 18 September 2015 – Singapore Exchange Mainboard listed Silverlake Axis Ltd (“Silverlake Axis” or the “Group”), a leading provider of Digital Economy Solutions and Services to major organisations in Banking and Financial Services, Payments, Retail and Logistics businesses, is buying SunGard Ambit (Singapore) Pte. Ltd. (“SAS”) (previously known as System Access Limited) for US$12 million to expand its suite of software and services as well as deepen and broaden its customer relationships and geographical presence. Under the terms of the agreement, Silverlake Axis will acquire 100 percent of the equity of SAS from SunGard Asia Pacific Inc.


SAS brings a complementary retail banking portfolio of software and service solutions to the Group’s strengths in delivering financial technology innovation to our customers. In particular, the SAS Retail Banking Product Portfolio positions Silverlake Axis for mid-tier customers while offering a broader variety of tiered deployment options from a technology and a pricing perspective. These products can be deployed on open digital platforms thereby making it possible for Silverlake Axis to address the needs of customers from mid-tier to large enterprises.


In addition, the SAS OmniChannel solutions enhance Silverlake Axis’ Channel offerings with its rich capabilities to create and manage superior customer experience across all digital touch points. And the SAS OmniCard and 3D Protect components augment Silverlake Axis’ Card solution with workflowenabled tools and enhanced payment authentication for secure online internet and mobile transactions.


Through this acquisition, Silverlake Axis will further expand its software and services offerings to empower customers in accelerating their digital transformation. In addition, the Group will add more than 50 new customers to its current base of over 150 customers, extending its geographical reach to Eastern Europe, Middle East, South Asia while at the same time creating a stronger market leadership in South East Asia.


The consideration of US$12 million is on a willing-buyer willing-seller basis and shall 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 approximately 15% to the revenue of the enlarged Silverlake Axis Group. While cost synergies will be identified and implemented following the acquisition, revenue synergies will be created from the cross selling of software and services to each other’s customers.


Commenting on the transaction, Dr Raymond Kwong, Silverlake Axis CEO and Group Managing Director, said, “The Group is constantly on the lookout for complementary software businesses to expand our suite of business enterprise software solutions. Through this acquisition, the combined and complementary multi-platform core, channels, card and payment solutions will enable us to deepen our customer solution implementation and support capabilities. This investment will position Silverlake Axis to play a leading role in Digital Financial Technology adoption and innovation across an expanded market space leveraging on the combined portfolio of software and knowledge assets”.


Mr Dieter Kaeslin, COO of SunGard’s Retail Banking business expressed, “SunGard has always been focused on driving our businesses in a direction which delivers more value to our clients. We believe that this transaction fulfils this purpose, and is the best outcome for our Retail Banking customers and employees.”


About Silverlake Axis

Silverlake Axis Ltd (SAL) is a leading provider of digital economy solutions and services for major organisations in Banking, Insurance, Payments, Retail and Logistics industries. The Group's Silverlake Axis Software and Services Solutions are delivering operational excellence and enabling business transformations at over 100 organisations across Asia, including 40% of the largest banks in South East Asia. SAL has a 25 year track record of successfully delivering proven Financial Institution Class Core Software and is the core system platform partner of choice for 3 of the 5 largest ASEAN super regional financial institutions.


Under Axis Systems Holdings Limited, the Group was listed on the SGX-SESDAQ on 12 March 2003. It was renamed Silverlake Axis Ltd in 2006 following the acquisition of SAACIS, the company that owns the Silverlake Integrated Banking Solution (SIBS) and the listing was transferred to the Mainboard of the Singapore Exchange on 22 June 2011.


Silverlake Axis Ltd
Dr. Raymond Kwong
CEO and Group Managing Director
Email: raymondkwong@silverlakeaxis.com
Cyrus Capital Consulting
Mr. Lee Teong Sang
Principal Consultant
Tel: +65-9633 9035
E-mail: teongsang@cyrus.com.sg

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