Ex SunGard staffers enter bid to buy Rolfe & Nolan

Novora is a privately held investment firm focused on acquiring and managing European technology businesses. Its chairman, Douglas Bergeron, is a former chief executive of SunGard Brokerage Systems Group, which has annual revenues exceeding $230 million. He is also president and chief executive of Geac Computer Corporation, a Canadian software company currently being acquired by Extensity, a provider of employee relationship management services based in the US. Navora's investment strategy is to acquire established businesses ranging from $3 million to $300 million in revenues and encourage their growth and development.

Battery Ventures, along with Blackstone Group, was a venture capital firm that backed a purchase of the London International Financial Futures and Options Exchange prior to its purchase by Euronext for £555 million in October 2001. Battery has preliminarily agreed to co-sponsor Navora's bid.

When Rolfe & Nolan’s shares peaked at the height of the technology bubble, the company was worth £102 million. Boston-based back-office technology company onExchange made a bid to purchase the company for £12.5 million in July last year.