SunGard Insurance Systems, an operating group of SunGard, has acquired Sherwood International Plc.
Sherwood will be rebranded as SunGard Sherwood Systems, and Gavin Lavelle, currently part of SunGard's mergers and acquisitions team, has been appointed chief executive officer.
Ray Davis, chief executive of SunGard Employee Benefit Scheme said: "The transition of Sherwood into SunGard promises to bring an expanded product offering to customers of both Sherwood and SunGard Insurance Systems throughout the world, with the potential to drive down operating costs for insurance providers."
SunGard said the acquisition was not expected to have a material impact on the company's financial results.
