An affilate of private equity firm Hellman & Friedman will acquire the education unit of SunGard Data Systems for $1.775 billion and combine it with Datatel, a portfolio company owned by Hellman & Friedman that makes administrative and academic software used by higher education institutions.
Once merged, SunGard Higher Education—which provides financial, human resources, fund-raising, and student data systems—and Datatel will create a company designed to grab more than 50 percent of the market for data management software services to clients in the education industry, according to Inside Higher Ed.
