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Folsom-Based PowerSchool Acquires Public-Sector Software Company for $850 Million

Folsom-based PowerSchool announced it has acquired SunGard K-12 business from FIS, a financial services technology provider.

Folsom-based PowerSchool announced it has acquired SunGard K-12 business from FIS, a financial services technology provider.

The acquisition was made by Vista Equity Partners for $850 million. Vista has been expanding PowerSchool's software suite since it originally purchased the company in 2015 for $350 million. In its deal with FIS, Vista will now be able to combine SunGard K-12’s enterprise resource system with PowerSchool’s Unified Classroom platform. 

In an announcement, PowerSchool CEO Hardeep Gulati said:

The success of improving student growth, empowering educators and streamlining school operations hinges on technology applications working seamlessly together. With this acquisition, PowerSchool is able to provide a comprehensive, unified suite of applications delivering holistic and real-time analytics to impact student performance, improve teacher effectiveness, provide insights into budgets, and optimize investments across all district initiatives.
After the SunGard purchase closes later this quarter, Vista will have invested close to $1 billion in PowerSchool, according to The Sacramento Bee