A 'who's who' consortium of private equity investments led by Menlo Park based Silver Lake Partners that included Bain Capital Partners, Blackstone, Goldman Sachs, KKR, and Providence Equity Partners bought SunGard Data Systems for $11.3 billion in 2005. At the time, it was the biggest buyout since KKR bought RJR Nabisco for $25 billion in most-enthralling buyout battle of the 1980's.
Silver Lake and its partners paid $36 a share and took on $500 million in debt for the Wayne, Pa based company that produces business processing software for financial, public sector and education companies. SunGard is ranked 434 Fortune's list of the 500 biggest companies and has annual revenue about of $5 billion. According to its latest filings, SunGard currently has over $8 billion in long term debt rated CCC+. Its loss income from continuing operations was $96 million this year and the company has not yet registered for an initial public offering since being taken private.