Nearly a decade after going private in an $11.4 billion leverage buyout (LBO), SunGard Financial Systems has filed a prospectus of intentions to once again go public. Acquired on August 11, 2005, the LBO was backed with equity investment from Bain Capital Partners, The Blackstone Group, Goldman Sachs & Co., Kohlberg Kravis Roberts & Co., Providence Equity Partners, Silver Lake and TPG, of which continue to control SunGard.
The Form 424 B3 filed by SunGard is often referred to as a pre-filing as it omits details on the issuer’s prospective size of its sale. Included though are up to date financials, including for the Q1 2015 period.
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According to the report, for quarter ended March 31st 2015, revenues were $671 million, 2.8% above the same period last year. Net income, excluding losses attributable to non-controlling interests was $28 million. As of March 31st, the firm reported that it is holding $4.67 billion in debt, with $555 million in cash.
A provider of technology solutions for the financial industry, SunGard has built a wide base of products and customer types they support. Their IT and software solutions include products for post trade reporting, asset managers, traders, energy trading and fund administration.