IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

MTI reveals contingency plans after Sungard UK goes into administration

Provider says it is bringing in measures to ensure “minimal impact to customers”

A close up shot of a corner of a building with the word Sungard displayed, with a blue sky in the background

Services and solutions provider MTI Technology is implementing contingency plans following the news that Sungard UK has been placed into administration.

MTI said that is it is focused on insuring “uninterrupted supply of services to all customers affected” and revealed it is in discussions with the administrators about continuity of service “across a variety of scenarios”, in an announcement this week.

To help prevent any further issues, the provider has also reviewed the preparedness of the pre-agreed contingency plans, should the supply chain fail. It said the focus of its plans is to ensure “minimal impact to customers”.

“MTI has a number of customers that use Sungard for elements of their infrastructure and we are taking all the necessary steps to provide support to customers affected by this news,” said MTI COO Ben Cranham.

“We have classed this as ‘Major Event’ to ensure it has the highest priority for our internal teams and that we quickly establish how to achieve the best outcomes for our customers.”

Pennsylvania-headquartered Sungard provides IT solutions across the areas of business continuity, disaster recovery, cloud, consulting, data centre and colocation services.

The UK arm of the company says it has been hit hard by the recent increases in global power supply costs and, due to their business model, revealed it has been unable to absorb the cost increases, making the business “untenable in its current form”.

Related Resource

Optimising storage infrastructure for DevOps practices

Maintaining IT infrastructure to best support application servicesoptim

Whitepaper cover with text and blue top bannerFree Download

As a result, MTI was informed on the 28th March that Sungard UK’s directors had requested for the company to be placed into administration.

Benjamin Dymant and Ian Wormleighton of Teneo Restructuring have been appointed as administrators and were successful in securing limited funding. That has ensured Sungard UK can continue business while discussions with landlords continue and a buyer is sought.

“The funding provides platform to advance the company’s discussions with landlords, to optimise cost and space, and with customers, to pass through increased power costs.,” Dymant said in a statement.

“The ability for the business to continue to trade in the medium to long term, either to enable a rescue of the business as a going concern or to deliver individual asset sales, will be reliant upon burden sharing from both customers and landlords alike.”

He added: “We will be working with the shareholder and other stakeholders to further consider the ability for the company to continue trading on a day-to-day basis. Any changes will be communicated directly with customers, employees and suppliers.”

Featured Resources

Activation playbook: Deliver data that powers impactful, game-changing campaigns

Bringing together data and technology to drive better business outcomes

Free Download

In unpredictable times, a data strategy is key

Data processes are crucial to guide decisions and drive business growth

Free Download

Achieving resiliency with Everything-as-a-Service (XAAS)

Transforming the enterprise IT landscape

Free Download

What is contextual analytics?

Creating more customer value in HR software applications

Free Download

Recommended

Panasas bolsters sales and marketing leadership with four key appointments
channel

Panasas bolsters sales and marketing leadership with four key appointments

21 Apr 2022

Most Popular

Europe's first autonomous petrol station opens in Lisbon
automation

Europe's first autonomous petrol station opens in Lisbon

23 May 2022
Nvidia pauses hiring to help cope with inflation
Careers & training

Nvidia pauses hiring to help cope with inflation

23 May 2022
Windows 11's nifty new search feature has one major downside
Microsoft Windows

Windows 11's nifty new search feature has one major downside

23 May 2022