SS&C Technologies, which provides back office software and outsourced services to the financial industry, has been highlighted as Renaissance Capital's Featured IPO. The company plans to raise $150 million by offering 10.7 million shares at a proposed range of $13-$15. J.P. Morgan, Credit Suisse, Morgan Stanley and Deutsche Bank are acting as joint bookrunners on the deal, which is expected to price this week.
LBO'd by private equity giant Carlyle Group and the CEO in 2005, SS&C Technologies provides subscription-based back-office software and outsourced services to customers in the financial industry, such as institutional asset managers, alternative investment managers, banks and insurers. Aided by 29 tuck-in acquisitions since 1995, the company has amassed a broad product portfolio that allows its clients to manage complex processes, including fund accounting and reporting, performance measurement, trade processing, and compliance, across various asset classes.
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