Spinning Around: SS&C Technologies to Go Public Again

WINDSOR, Ct. – Private equity fund Carlyle Group, which took Open Solutions Inc. private a few months ago, announced yesterday it is taking SS&C Technologies, the provider of technology services for credit unions and banks it took private in 2005, public again. The company earned $12 million in 2003 and $19 million in 2004, but just $1.5 million in 2005 and $1.1 million 2006, and reported a loss of $227,000 for the first quarter of 2007, according to a filing with the Securities and Exchange Commission. SS&C provides a variety of online systems for credit unions, including a bond accounting system, called PortPro Bond, and an asset liability management services, called PALMS. Since the 2005 leveraged buyout, Carlyle has acquired 12 other companies providing similar services and added them to SS&C. Carlyle is one of the biggest buyout funds in the country, with more than $28 billion of assets under management.