SunGard has been sold in a deal worth $11.3bn.

The company announced that it has reached an agreement with a consortium of investment companies.

The consortium was organised by Silver Lake Partners which includes Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. L.P., Providence Equity Partners and Texas Pacific Group.

Under the terms of the agreement, SunGard stockholders will receive $36 in cash for each share of SunGard common stock they hold.

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