Silverlake Axis purchases SunGard Ambit for US$12m
It's looking to expand its software and services.
The digital economy solutions and services provider's purchase is a move towards broadening its customer relationships and geographical presence.
According to a statement by Silverlake Axis, SunGard Ambit's forte of retail banking software and service solutions complements the group's strengths of financial technology innovation.
SunGard Ambit's retail banking product portfolio also opens opportunities for Silverlake Axis, such as reaching out to mid-tier customers.
"These products can be deployed on open digital platforms thereby making it possible for Silverlake Axis to address the needs of mid-tier to large enterprises," Silverlake said.