Software house Software Solutions Partners (SSP) is gearing up to float on the stock market next year, once the company has reached a market valuation of £100m.
The privately-owned company, which acquired the I90-insurer system from Computer Sciences Corporation (CSC) in April, is expected to hit a net income of £27m in its annual results later this month.SSP marketing director Nick Southan said: "Our annual results again demonstrate the strength of the SSP business model. We will continue to make strategic acquisitions, with the goal of floating on either AIM or the LSE.
"It's important to be large enough to make floating a viable proposition and we have set a benchmark of £100m. We would hope to reach that size in 18 months."
The software house, whose clients include the Willis Broker Network, Swinton and AXA, is hoping to reach the £100m mark by tapping into the insurance and underwriting agent market.
David Waring, divisional director of SSP's corporate arm, said: "SSP is best known in the smaller broker market but we are pushing heavily for the larger corporate clients and underwriting agents. Our platforms are versatile enough to service brokers and insurers."
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