SS&C Technologies Files for $300 Million IPO

NEW YORK (Reuters) – Financial software SS&C Technologies Holdings Inc filed for an initial public offering of up to $300 million on Monday.

SS&C Technologies’ software is used in trading, modeling and portfolio management and reporting. The company said in a regulatory filing with the U.S. Securities and Exchange Commission that it has 4,500 clients.

The company reported revenue of $199.9 million in the nine months ended Sept. 30, down from $211.7 million in the same period a year ago. It reported net income of $13 million, up from $12.3 million a year ago.

SS&C Technologies said it would use proceeds from the offering to redeem senior subordinated notes and for working capital and general corporate expenses.

Shareholders include funds associated with Carlyle Partners.

Underwriters on the deal are being lead by J.P. Morgan. The filing did not provide details of the offering. (Reporting by Clare Baldwin, editing by Leslie Gevirtz)