WALL STREET – SS&C Technologies, a software provider for credit unions and investment companies owned by private equity giant Carlyle Group, plans to raise as much as $125 million with an initial public offering.
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Following completion of the IPO, Carlyle, which also owns credit union core processor Open Solutions Inc., will own 63% of SS&C and SS&C Chairman and CEO William Stone will beneficially own 25%.
The company originally filed for the IPO in 2007 but has delayed it because of poor market conditions.
Windsor, Conn.-based SS&C posted net income of $19 million for 2009 on $270 million in revenues.
