SunGard is an American multinational company based in Wayne, Pennsylvania, which provides software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services division of Sun Oil Company. The name of the company originally was an acronym which stood for Sun Guaranteed Access to Recovered Data, a reference to the disaster recovery business it helped pioneer. SunGard is ranked at 480th in the U.S. Fortune 500 list in the year 2012. In August 2005 the company was acquired by seven private equity firms and de-listed from the NYSE. SunGard was one of the title sponsors of the Tinkoff pro cycling team until the end of 2011. In August 2015, FIS announced that it had signed a definitive agreement to acquire SunGard.