Bankrupt IT Firm Sungard Wins Approval of $52.5 Million Sale

Sungard Availability Services Ltd., a bankrupt IT service provider backed by the Carlyle Group, won court approval to sell nearly all assets to 365 Data Centers for $52.5 million.

The assets being sold in the deal, approved Wednesday by the US Bankruptcy Court for the Southern District of Texas, don’t include cash on hand and Sungard’s rights to claw back prior transfers or other property.

365 Data Centers, which is purchasing Sungard’s assets through an entity called 365 SG Operating Co. LLC, provides technology services, including network and cloud computing.

Sungard first filed Chapter 11 in 2019 and won ...