SunGard snaps up Caminus for $160 million

Pennsylvania-based integrated IT service provider SunGard is to buy US energy software company Caminus for about $160 million in an all-cash deal. Upon completion – expected within two months – Caminus will become an operating unit of SunGard Trading and Risk Systems.

Caminus, which made revenues of $84 million last year, has about 250 clients ranging from leading power and gas producers, distributors and other utilities to municipalities and financial institutions. Its software allows energy companies to more efficiently trade energy, process and streamline transactions, manage complex risk and credit scenarios and make optimal operational decisions.

Caminus chief executive Bill Lyons said the deal should allow the company to quickly achieve new growth due to SunGard’s large number of client relationships, significant resources and its global reach.

SunGard Trading and Risk Systems' chief executive Jim Ashton said the pair plan to exploit synergies between their software suites. “Our leading high-end solutions, such as Panorama, nicely complement Caminus’ integrated software solutions,” said Ashton.

The Caminus operating unit within SunGard will be headed by the company's chief operating officer, John Andrus.