The company provides trading and investment management software for more than 15,000 financial firms. The company has hired investment banks, which could value the company at more than $10b (including debt).
SunGard was acquired for $11.4b in 2005 by an army of PE funds. The deal was one of the largest LBOs that preceded the financial crisis, SunGard is one of the longest-held investments in private equity history, feels hard to believe that this will yield a good IRR.
One of the last megadeals from the buyout boom is headed back to the public markets. SunGard, a financial software provider, filed on Thursday to go public, roughly a decade after being acquired by a consortium of investment firms in the early stages of a flush time for private equity. The preliminary prospectus did not disclose how much the company plans to raise, giving only a placeholder fund-raising target of $100 million. Also not revealed: what the software maker’s stock ticker will be or on which stock market it will trade.
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