Tech Services Firm Sungard Gets $52.5 Million Bid for Assets

Bankrupt Sungard Availability Services Ltd., an IT service provider that helps its corporate clients recover from disasters, announced a $52.5 million winning bid to purchase its network and data-center assets.

The bid made by 365 SG Operating Company LLC was disclosed Monday in a filing in the US Bankruptcy Court for the Southern District of Texas. A hearing to consider court approval is scheduled for Aug. 24.

Sungard, which is owned by Angelo Gordon, Blackstone Credit, FS/KKR, and Carlyle Group Inc., filed Chapter 11 in April, the tech company’s second bankruptcy in three years.

The Chester, Penn.-based company filed ...