SS&C takes another crack at an IPO, looks for $300M

By Rodney Brown

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A little more than a year after it pulled the plug on a previous attempt at an initial public offering, SS&C Technologies Inc. has decided to take another swing at it, filing the appropriate federal documents yesterday for a planned $300 million IPO.

The Windsor, Conn.-based technology holding company has spent the past year in heavy acquisition mode. Last month SS&C bought for an undisclosed amount TheNextRound Inc., a Framingham-based software maker serving private equity and other alternative investment firms.

In June, SS&C acquired the assets of Pennsylvania-based Unisys Corp.’s Maximis software, an investment accounting application designed to meet regulatory and management reporting needs of large finance and insurance companies, and public pension funds. Those financial terms were also not released.

SS&C started the buying spree in March when it the acquired assets of Burlington-based Evare LLC, a financial services technology company, for -- you guessed it -- an undisclosed amount.

In October of 2008 SS&C pulled its plans for an IPO it had filed for in April of that year. Now that it is trying again to trade on the public markets, SS&C will be returning to familiar territory. SS&C was founded in 1986 and completed an IPO in 1996. In 2005, the company was acquired by entities affiliated with the Washington, DC-based Carlyle Group LLC, and converted to a privately held company, according to company officials.

In its filing with the U.S. Securities and Exchange Commission, SS&C said it would use the proceeds to retire some debt, for general working capital, but also for even more potential purchases.

For fiscal 2008, SS&C reported revenue of $280 million and a profit of $18.8 million.

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