Financial software maker SunGard files for IPO: Reuters

(Reuters) – SunGard, a financial software maker, filed with U.S. regulators on Thursday for an initial public offering of its common stock.

Pennsylvania-based SunGard, which has more than 15,000 customers, mainly provides trading and investment management software to financial firms.

SunGard was acquired for $11.4 billion in 2005 by Silver Lake Partners LP, TPG Capital LP, Bain Capital LLC, Blackstone Group LP, Goldman Sachs Capital Partners LP, KKR & Co LP and Providence Equity Partners Inc.

One of the largest leveraged buyouts that preceded the 2008 financial crisis, SunGard is one of the longest-held investments in private equity history.

SunGard had hired investment banks for an IPO that could value the company at up to $10 billion, including debt, Reuters reported last month, citing sources.

The filing included a nominal fundraising target of about $100 million. (
JP Morgan, Barclays and Goldman Sachs are among the underwriters to the IPO, the company said.

SunGard reported a 1.7 percent rise in revenue to $2.8 billion for the year ended Dec. 31. The company posted a net loss of $222 million, compared with a profit of $62 million a year earlier.

The filing did not reveal how many shares the company planned to sell or the exchange it plans to list on.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. (Reporting by Neha Dimri in Bengaluru; Editing by Sriraj Kalluvila)

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