SunGard has filed an amended S-1 form with the U.S. Securities and Exchange Commission for its initial public offering (IPO). There were no terms given in the filing but the offering is valued up to $100 million. The company has not yet decided on which market to list or what symbol to use.

The underwriters for the offering are JPMorgan, Goldman Sachs, Barclays, Deutsche Bank, Credit Suisse, Merrill Lynch, Citigroup, Morgan Stanley, RBC, UBS and Wells Fargo.

This company is a provider of mission-critical software to financial institutions globally. Its solutions automate a wide range of complex business processes across the financial services industry, including those associated with trading, securities operations, administering investment portfolios, accounting for investment assets and managing risk and compliance requirements.

SunGard is the largest provider of industry-specific software by revenue across the segments that it serves, and it is differentiated by the breadth of its offerings, leading edge technology, operating scale, deep domain expertise and global reach. In 2014, the company generated $2.8 billion in revenue, 70% of which was recurring, along with attractive operating margins and strong cash flows.

It serves a large, global customer base across multiple vertically focused groups in the financial services industry. SunGard has roughly 14,000 customers in over 100 countries. The company serves nearly 90% of the world’s 50 largest banks, 85% of the top 20 private equity firms and over 80% of the 50 largest insurance companies.

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In the filing the company described its financials as:

In 2014, we generated $2.8 billion in revenues. We classify our revenue into three categories: Software, SaaS and cloud, and Services, which contributed 40%, 38%, and 22% of 2014 revenues, respectively. Our revenues are highly diversified, with 64% of 2014 revenues generated from activity in North America and the remaining 36% generated outside of North America. Our largest customer accounted for approximately 3% of our 2014 revenues. Furthermore, in 2014, $330 million of our revenues came from China, India, Southeast Asia, Middle East, Africa, Latin America and Eastern Europe, which are growing significantly faster than the established markets and are referred to herein as “emerging markets.” In 2014, we generated a net loss attributable to SunGard of $396 million, which included a $339 million trade name impairment charge and a $61 million loss on the extinguishment of debt, both related to the split-off of Availability Services in March 2014 (the “AS Split-Off”), and Adjusted EBITDA of $765 million.

As for the proceeds from the offering, SunGard intends to use them to pay off its outstanding indebtedness.

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