Bizness Lounge

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 [SILAK.UL], 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.

ADVERTISING

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. (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.