Drilling company Transocean to use SunGard’s Quantum

Houston-headquartered offshore drilling contractor, Transocean, plans to install Pennsylvania-based SunGard’s Quantum treasury management system.

Quantum will handle all Transocean’s cash management, foreign exchange, short-term investments, letters of credit and interest rate swaps businesses. The US company described the SunGard system as “the best solution” available on the market.

Transocean is listed on the New York Stock Exchange and has a market capitalisation of around $7 billion.

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