www.computerweekly.com Open in urlscan Pro
2606:4700::6812:1486  Public Scan

Form analysis
1 forms found in the DOM

GET https://www.computerweekly.com/search/query

<form action="https://www.computerweekly.com/search/query" method="get" class="header-search">
  <label for="header-search-input" class="visuallyhidden">Search the TechTarget Network</label>
  <input class="header-search-input" id="header-search-input" type="text" name="q" placeholder="Search Computer Weekly">
  <button aria-label="Search" class="header-search-submit"><i class="icon" data-icon="g"></i></button>
  <ul class="ui-autocomplete ui-front ui-menu ui-widget ui-widget-content ui-corner-all" id="ui-id-1" tabindex="0" style="display: none;"></ul>
</form>

Text Content

3
Trending Now

Bring cloud, connectivity and data togetherDownload NowView All3
X
3Hello, these 3 documents have been trending and as a member they are free to
you.
 * 
   Bring cloud, connectivity and data togetherDownload Now
 * 
   The future of IIoT & 5 key use cases propelling innovationDownload Now
 * 
   AECOM cuts through coal market complexities with Qlik's SaaS
   analyticsDownload Now




Search the TechTarget Network
Join CW+
Login Register Cookies
 * News
 * In Depth
 * Blogs
 * Opinion
 * Videos
 * Photo Stories
 * Premium Content
 * Webinars
 * Sign up for our daily newsletter

RSS
 * IT Management
    * IT leadership & CW500
    * IT architecture
    * IT efficiency
    * Governance
    * Innovation
    * Legislation & regulation
    * Operations & support
    * Project management
    * Strategy
    * Supplier management
    * Business issues
    * Sponsored Communities

 * Industry Sectors
    * Healthcare IT
    * Charity IT
    * Business services IT
    * Financial services IT
    * Government & public sector IT
    * Leisure & hospitality IT
    * Manufacturing IT
    * Media & entertainment IT
    * Retail IT
    * SME IT
    * Telecoms & internet
    * Transport & travel IT
    * Utilities IT
    * IT suppliers

 * Technology Topics
   Datacentre View All
    * Clustering for high availability and HPC
    * Containers
    * Converged infrastructure
    * Datacentre backup power and power distribution
    * Datacentre capacity planning
    * Datacentre cooling infrastructure
    * Disaster recovery/security
    * Green IT
    * Performance, monitoring and optimisation
    * Systems management
    * DevOps
    * IaaS
    * Server and Operating Systems
    * PaaS
    * Virtualisation
    * SaaS
    * Desktop virtualisation platforms
   
   Enterprise software View All
    * AI and automation
    * Blockchain
    * Business applications
    * Business intelligence
    * Cloud applications
    * Collaboration
    * CRM
    * Database
    * ERP
    * Financial applications
    * HR software
    * Middleware
    * Microservices
    * Windows
    * Mobile
    * Open source
    * Operating systems
    * SOA
    * Software development
    * Software licensing
    * Virtualisation
    * Web software
   
   IT in Europe and Middle East View All
    * IT in Benelux
    * IT in Germany
    * IT in Italy
    * IT in Poland
    * IT in Russia
    * IT in Spain
    * IT in the Middle East
    * IT in Turkey
    * IT in France
    * IT in the Nordics
   
   Information Management View All
    * Big data
    * Business intelligence and analytics
    * BPM
    * Content management
    * Quality/governance
    * Data warehousing
    * Database management
    * MDM/Integration
   
   IT in Asia-Pacific View All
    * IT in ASEAN
    * IT in Australia & New Zealand
    * IT in India
   
   Internet View All
    * Cloud
    * E-commerce
    * Internet infrastructure
    * Social media
    * Web development
   
   IT skills View All
    * Diversity in IT
    * Training
    * Jobs
    * Management skills
    * Technical skills
   
   Hardware View All
    * Chips & processors
    * Printers
    * Storage
    * Data centre
    * Mobile
    * Networking
    * PC
    * Servers
   
   IT security View All
    * Antivirus
    * Secure Coding and Application Programming
    * Continuity
    * Cloud security
    * Data Breach Incident Management and Recovery
    * Endpoint and NAC Protection
    * Cybercrime
    * IAM
    * Risk management
    * Network Security Management
    * Data protection
    * Compliance Regulation and Standard Requirements
    * Security policy and user awareness
    * Web Application Security
   
   IT services View All
    * Cloud
    * Consultancy
    * Outsourcing
    * Hosting
    * Offshore
    * Startups
   
   Mobile View All
    * Laptop
    * Mobile software
    * Mobile networking
    * Smartphone
    * Tablet
   
   Networking View All
    * Datacentre networking
    * Internet of Things
    * Mobile
    * Network hardware
    * Network monitoring and analysis
    * Network routing and switching
    * Network security strategy
    * Network software
    * Software-defined networking
    * Telecoms networks and broadband communications
    * Unified communications
    * VoIP
    * WAN performance and optimisation
    * Wireless
   
   Storage View All
    * Cloud storage
    * Containers and storage
    * Compliance and storage
    * Backup
    * Disaster recovery
    * Flash and SSDs
    * Hyper-convergence
    * Object storage
    * Disk systems
    * Software-defined storage
    * Storage switches
    * Storage management
    * Storage performance
    * Virtualisation and storage
   
   Please select a category
    * Datacentre
    * Enterprise software
    * IT in Europe and Middle East
    * Information Management
    * IT in Asia-Pacific
    * Internet
    * IT skills
    * Hardware
    * IT security
    * IT services
    * Mobile
    * Networking
    * Storage

 * Follow:
 * 
 * 
 * 



jamdesign - stock.adobe.com

jamdesign - stock.adobe.com

News


RISING ENERGY COSTS BLAMED AS UK ARM OF COLOCATION FIRM SUNGARD AS ENTERS
ADMINISTRATION




FINANCIAL DIFFICULTIES CAUSED BY DOWNTURN IN DEMAND FOR ITS SERVICES DURING THE
PANDEMIC, COUPLED WITH ‘UNPRECEDENTED’ ENERGY PRICE RISES, FORCE SUNGARD AS INTO
ADMINISTRATION IN THE UK

Share this item with your network:

 * 
 * 
 * 


By
 * Caroline Donnelly, Senior Editor, UK

Published: 29 Mar 2022 17:00

The UK arm of US-based colocation giant Sungard Availability Services has
entered administration after falling into financial difficulties caused by
spiralling energy costs.



The process is being overseen by insolvency consultancy Teneo Restructuring,
which confirmed that the company had been “struggling in the face of rising
power costs”, coupled with the financial fallout from the Covid-19 coronavirus
pandemic, in a statement to Computer Weekly. 

The company operates 16 sites across the UK, which include some standalone
datacentres as well as server farms that are paired with office space that are
designed for use by companies during times of crisis so they can continue to
function. The latter sites are known as Workplace Recovery Centres.

The Sungard AS’s most recent set of UK financial results were filed in February
2020 and cover the 12 months to 31 December 2020, and paint a picture of a
company whose fortunes had been negatively affected by the Covid-19 pandemic
prompting some clients to cut their IT spending.

“This has resulted in certain datacentre and workplace facilities becoming
unprofitable, with fixed lease and energy costs no longer being offset by
customer revenue,” its accounts stated.

“The company has taken several actions to mitigate these impacts, including the
commencement of negotiations with landlords and invoicing customers for
additional costs incurred on their behalf.”

The document then goes on to reference the toll the rise in energy costs “to
unprecedented levels” during the second half of 2021 has taken on its business.

“While the company had hedges in place to partially mitigate these price
increases, the magnitude of the energy cost increase has put additional pressure
on the business, including on a look-forward basis.”

To help it weather the fallout from the pandemic and the uptick in energy costs,
the document confirmed the company had sought additional financial support from
its investors to the tune of $20.5m, which was due for repayment by 31 May 2023.

In addition to this, the Teneo statement confirmed the company had engaged with
its landlords, customers and its parent company to seek a “consensual
restructuring, [but] despite the board’s best efforts, these discussions have
not been productive”, it said. “The board therefore concluded that, without the
requisite customer and landlord support, there was not viable turnaround plan
available.”

This in turn led to the appointment of Benjamin Dymant and Ian Wormleighton from
Teneo as joint administrators, the statement added.

Since their appointment, the pair have succeeded in securing a limited amount of
funding to enable Sungard AS to keep trading while discussions with its
landlords and customers continue, as well as giving it time for the
administrators to find a possible buyer for the business.

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

“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.”

READ MORE ABOUT COMPANY FINANCIAL TROUBLES

 * The Cabinet Office is facing criticism after details emerge that at least one
   major government department has briefed suppliers to migrate away from
   UKCloud.
 * IT contractors who provide services through their own limited companies and
   pay themselves in dividends are largely uncatered for by the goverment's
   various coronavirus-focused business support packages, and are facing
   financial difficulties.





READ MORE ON DATACENTRE PERFORMANCE TROUBLESHOOTING, MONITORING AND OPTIMISATION

 * EXIUM, TENEO TEAM TO DELIVER DIGITAL EXPERIENCE, 5G-CAPABLE SASE PLATFORM
   
   
   By: Joe O’Halloran

 * ARGENTA TAKES TENEO SD-WAN TO IMPROVE GLOBAL NETWORK
   
   
   By: Joe O’Halloran

 * UNITY EDGECONNECT SD-WAN CERTIFIED FOR AWS, GOOGLE, MICROSOFT
   
   
   By: Antone Gonsalves

 * ETHERNET SWITCH MARKET TRENDS SHOW 40 GBE LOSING SHARE
   
   
   By: Eamon Earls

Latest News
 * Acquisition of UK fintech Azimo will address home-working challenges for
   enterprises
 * Lax money laundering controls lands N26 with ban from Italian central bank
 * Hybrid work offers markedly positive improvements to culture
 * View All News

Download Computer Weekly
 * In The Current Issue:
   * Raspberry Pi at 10: Cheaper than chips
   * Gartner: How to retain and motivate IT staff
   * How Dutch hackers are working to make the internet safe
   Download Current Issue

Latest Blog Posts
 * The low-no-code series – Copado: Building a new line of logic – CW Developer
   Network
 * The low-no-code series – Daylight Automation: The role of structured data &
   governance – CW Developer Network
 * View All Blogs

Related Content
 * Argenta takes Teneo SD-WAN to improve global network – ComputerWeekly.com
 * Exium, Teneo team to deliver digital experience, ... – ComputerWeekly.com
 * Lack of trust in tech is damaging smarthome industry – ComputerWeekly.com



Latest TechTarget resources
 * CIO
 * Security
 * Networking
 * Data Center
 * Data Management

SearchCIO
 * CHIPS Act moves the needle on US chip manufacturing
   
   Not only does the CHIPS Act funnel billions into U.S. semiconductor chip
   manufacturing, it reflects a major change in how U.S. ...

 * Top 9 blockchain platforms to consider in 2022
   
   Get the lowdown on the major features, differentiators, strengths and
   weaknesses of the blockchain platforms getting the most ...

 * SEC's proposed climate rule a game-changer for sustainability
   
   Experts are praising the SEC's newly proposed climate risk disclosure rule,
   which would require businesses to bake climate risk ...

SearchSecurity
 * Rapid7 finds zero-day attacks surged in 2021
   
   Cybercriminals are turning bugs into exploits faster than ever, according to
   Rapid7, which found that the average time to known ...

 * How to put cybersecurity sustainability into practice
   
   Cybersecurity sustainability practices involve mitigating cyber-risk without
   burning out people -- or burning through resources. ...

 * Cryptocurrency cyber attacks on the rise as industry expands
   
   Consumers, businesses and governments are finding new ways to use
   cryptocurrency, but a recent string of cyber attacks has ...

SearchNetworking
 * Best practices for enterprise CBRS deployment
   
   Enterprises can use CBRS spectrum to deploy private cellular networks that
   offer reliable and predictable coverage. Learn about ...

 * Aruba Central basics key for Atmosphere attendees
   
   IT pros like to check out cutting-edge technology, but they say Aruba Central
   basics like device onboarding and data privacy are ...

 * Aruba launches VXLAN management, GPS-enabled Wi-Fi networks
   
   Aruba's Central NetConductor is a cloud-based service that delivers
   automation and identity-based network access to enforce ...

SearchDataCenter
 * ServiceNow adds new RPA features to San Diego release
   
   Doubling down on its RPA initiative, ServiceNow unveiled the San Diego
   version of its Now Platform that contains an RPA Hub and a...

 * Nvidia beefs up its line of AI supercomputers, chips
   
   Nvidia rolls out a new GPU architecture, supercomputers and chips that in
   concert will aid developers in creating the hardware ...

 * Intel's aggressive processor roadmap has some bumps ahead
   
   Intel is optimistic its processor roadmap can put the company back on top,
   but the company faces the challenging prospect of ...

SearchDataManagement
 * Oracle HeatWave ML fuses machine learning with database
   
   The tech giant is continuing to build out the capabilities of its MySQL
   HeatWave cloud database with real-time elasticity, ...

 * Pinecone raises $28M to advance vector database
   
   The startup's database technology enables enterprises to use traditional data
   stores alongside vector-based data to support ...

 * DataStax Astra DB integrates real-time data streaming
   
   The database-as-a-service vendor advanced the change data capture
   capabilities of its cloud database with technology from its ...

 * About Us
 * Editorial Ethics Policy
 * Meet The Editors
 * Contact Us
 * Our Use of Cookies
 * Advertisers
 * Business Partners
 * Media Kit

 * Corporate Site
 * Contributors
 * Reprints
 * Answers
 * E-Products
 * Events
 * In Depth
 * Guides

 * Opinions
 * Quizzes
 * Photo Stories
 * Tips
 * Tutorials
 * Videos
 * Computer Weekly Topics

All Rights Reserved, Copyright 2000 - 2022, TechTarget

Privacy Policy
Cookie Preferences
Do Not Sell My Personal Info


Close