SunGard Said to Attact Takeover Interest Amid Fresh IPO Filing (FIS)

While the company just submitted a filing with the U.S. SEC for an Initial Public Offering of its common stock, suitors might already be pursuing a takeover of SunGard.

SS&C Technologies Holdings (Nasdaq: SSNC) and Fidelity National Information Services (NYSE: FIS) some of the companies looking to potentially acquire SunGard, which is a maker of software for financial institutions.

SunGard was acquired by a group of private-equity firms -- including Bain Capital LLC, Blackstone Group LP and KKR & Co. -- about 10 years ago in an $11 billion deal. The recent IPO filing values the company at around $7 billion, according to the WSJ.

The private-equity firms held onto SunGard for longer than normal due to uneven results; the company was met with some strife in 2008 - 09 during the financial crisis as banks struggled to remain afloat.

With its IPO filing, SunGard noted that it would sacrifice benefits related to a tax-free spin of its SunGard Availability Services unit, which provides disaster recovery and other IT-related services. The unit was separated from SunGard last year.

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