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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. (http://1.usa.gov/1Q97223)
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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