TA Associates Seeks $200M In IT IPO

Firm: TA Associates

Price: Undisclosed

Company: Open Link Financial

Estimated IPO Proceeds: $200 million

A software company owned by Boston shop TA Associates plans to raise $200 million in a public offering, according a regulatory filing.

TA Associates took 77.5 percent control of the company, Open Link Financial, via a 2006 recapitalization. TA Associates, known for investing in high-growth enterprises, pumped at least $60 million in equity into Open Link Financial in 2006, according to the IPO filing. The filing doesn’t detail how many shares the company plans to sell nor how much of the offering’s proceeds would flow to TA Associates. Credit Suisse and Citi are the lead underwriters for the IPO.

Open Link Financial, based in Uniondale, N.Y., provides portfolio management software, tailoring its products to players in the energy, commodities and financial services markets. The company generated revenue of $138.7 million in 2007, up from $94.7 million the year before. Operating income also grew in 2007, rising to $15.4 million from $6.4 million, according to the regulatory filing.

TA Associates has been an active participant in the IPO market. Last year, it listed five portfolio companies, including cellular telecom company MetroPCS, the biggest IPO money raiser by an LBO-backed company. That company raised $1.2 billion in its IPO to achieve a post-offer market capitalization of $8 billion.—J.H.