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Capstone Partners Advises SBPA Systems on Sale to SunGard

May 2004

Boston, MA - Capstone Partners, a leading national investment banking advisory firm for the middle market, announced the successful acquisition of SBPA Systems, Inc by SunGard Corbel, an operating unit of SunGard (NYSE: SDS).   Financial terms of the transaction were not disclosed.

Since 1976, SBPA has provided health benefit administration systems and services to third party administrators, insurance companies, and self-insured or self-administration organizations nationally.

"SBPA has an outstanding reputation within the health benefits community for its superior systems," said Don Mackanos, president of SunGard Corbel. "Now we can leverage our combined expertise to provide a full range of health benefit services to this continually changing industry. SBPA is a terrific fit with SunGard Corbel and we are truly excited about this acquisition."

“This transaction brings two market leaders together and provides SunGard with a strong entree into the lucrative health benefits software market,” said Capstone’s President & Managing Partner John Ferrara. “This sector is poised for significant growth and the combined entities form a powerful platform ideally suited to take advantage of this emerging market opportunity.”

"The shareholders are very proud of this transaction and pleased with Capstone’s dedication to getting us there. Capstone’s senior professionals served as trusted advisors to SBPA throughout all phases of the process,” said Arnold Heinrich, Founder of SBPA Systems. “This change in ownership will result in an organization that has a long-term focus on the employee benefits administration industry at a time when new technology and changes in plan financing are creating opportunities for new system sales," continued Heinrich. "SunGard Corbel is a leader in complex systems development and our respective product lines and corporate cultures fit well together."

SBPA Systems, Inc. develops software applications to improve the effectiveness and efficiency of health care delivery to consumers, providers, payers and others responsible for health care administration. SBPA, headquartered in Houston, Texas, has been recognized as one of Houston's top ten software development firms, Houston's Fast Tech 50 as well as being named to one of Houston's Best Places to Work. For more information, visit www.sbpa.com.

SunGard Corbel Inc., an operating unit of SunGard, provides the employee benefits industry with retirement plan recordkeeping software, document generation software, all types of retirement plan documents, government forms software, plus educational seminars and services. For more information, visit www.sungardcorbel.com.

SunGard is a global leader in integrated software and processing solutions, primarily for financial services. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 20,000 customers in more than 50 countries, including the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenue of $3 billion. For more information, visit www.sungard.com.

 

“I hired Capstone because of their track record and industry focus, which I believe made a difference.  Capstone committed their best resources to us and delivered. The personality and professionalism of the firm are stellar.”
Arnold Heinrich
CEO, Princiapl Shareholder
SBPA Systems