US software company Sungard Data has been bought by a consortium of investment funds for $11.3bn (£6bn).
The deal is the largest private buyout of a technology firm, and also believed to be the second-largest buyout of any type of company in business history.
The broad-based consortium includes Silver Lake Partners, Bain Capital, Blackstone Group and Texas Pacific.
Sungard provides computer services, particularly to finance firms, and has annual sales of $3bn.
The Pennsylvania-based company has more than 20,000 customers in about 50 countries.
'Great value'
"This transaction offers great value to our stockholders and represents an endorsement of our business model," said Sungard president Cristobal Conde.
"Our customers and employees should know that it is business as usual, now and following the completion of the transaction."
Mr Conde added that Sungard will retain its senior management team and current headquarters.
The consortium is paying $36 a share for Sungard. Its other members include Kohlberg Kravis Roberts, and Providence Equity.
The deal is being financed through a combination of equity contributed by each partner, and additional loans provided by JP Morgan, Citigroup Global Markets, Deutsche Bank Securities, Goldman Sachs, and Morgan Stanley.
'Pleased'
While the Sungard board has recommended acceptance of the offer, it must still be approved by stockholders and regulators.
The sale is expected to be completed by the third quarter of this year.
"Our consortium partners are extremely pleased with this investment," said Silver Lake Partners co-founder Glenn Hutchins.
The largest buyout in corporate history is believed to be Kohlberg Kravis Roberts' acquisition of tobacco and food conglomerate RJR Nabisco for $25bn in 1989.
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