Software vendor SunGard has filed a Form S-1 with the US Securities and Exchange Commission relating to a proposed initial public offering (IPO) of its common stock, according to a press release.
SunGard is one of the major software providers used by private equity professionals and is currently owned by a consortium of funds sponsored by such GPs as Silver Lake Management, Bain Capital Partners and The Blackstone Group.
SS&C Technologies Holdings, Fidelity National Information Services and others have expressed interest in acquiring SunGard, according to a report in The Wall Street Journal. The number of shares to be offered, the price range and the stock exchange listing for the proposed offering have not yet been determined.
SunGard specializes in technology that helps automate processes related to trading, managing investment portfolios and accounting for assets. It has more than 15,000 customers, including the 10 largest private equity firms.
SunGard offers such products as Investran 7, Data Exchange and Insight, which connects GPs' front, middle and back office data to help improve LP and regulatory reporting efficiency and overall data management. The latest version, launched last year, gives LPs detailed capital account analysis and interactive reporting on investment details.
JP Morgan Securities, Goldman Sachs, Barclays, Deutsche Bank and Credit Suisse are managing the offering.