$900 MILLION AND COUNTING: What will PowerSchool, the company best known for its student information system and owned by a private equity firm, buy next? Today the Folsom, Calif.-based company announced it has formally acquired Sungard’s K-12 business from FIS, a developer of financial services technology. (FIS bought Sungard for $5.1 billion in November 2015.)
Financial terms of the transaction, first announced last December, were not disclosed. Sungard provides a suite of enterprise resource planning tools that aims to help K-12 administrators manage human resources, finances, curriculum, assessment and student data. Founded in 1983, Sungard boasts more than 1,400 districts as clients. The marks PowerSchool’s eighth acquisition since being purchased by Vista Equity Partners in June 2015. The company says it has now spent more than $900 million on these purchases.
