SS&C reduces IPO pricing to up to $161M

By Mass High Tech staff

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Financial management software firm SS&C Technologies Inc. has priced the terms of its initial public offering, which could bring the Windsor, Conn.-based company between $139.5 million and $161 million. The amount represents a reduction from its original IPO filing registered in December with a goal of raising $300 million.

Terms of the current IPO consist of 10.73 million shares priced between $13 and $15 per share. SS&C will trade under the ticker symbol “SSNC” on the Nasdaq. J.P. Morgan served as the lead underwriter in the transaction.

The software company, backed by The Carlyle Group, noted in a press release today that previously it had filed for and withdrawn a $200 million offering.

Founded in 1986, SS&C develops software as a service (SaaS), software enabled-services and specialized software for the global financial services industry. The company went public originally in 1996; in 2005, it was was taken private after its acquisition by companies linked to The Carlyle Group.

The company employs more than 1,200 people in North America, Europe, Asia and Australia.

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