SunGard acquires ASP pioneer Kiodex

SunGard has acquired New York based Kiodex, a supplier of web-based risk management, financial reporting, FAS 133 compliance and market data solutions for companies exposed to commodity price risk.

Kiodex will be an operating unit of SunGard Trading and Risk Systems, headed by Raj Mahajan as president. Tom Farley and Charles Reyl will assume key executive positions in the new business unit as chief operating officer and vice president, financial engineering, respectively.

Former Kiodex CEO Martin Chavez will continue working in an advisory role for the company, but has stepped away from day-to-day management.

The ASP model has been gaining popularity over recent months as smaller

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