Software Solutions Partners (SSP) is set to raise £15m to fund its expansion plans following revelations that is ready to launch on the Alternative Investment Market (AIM) next week.

The story was broken by earlier this week.

It is understood that SSP will expand into Europe, and attempt to consolidate itself as a market leader in the sector.

Insurance Times learned in June 2005 (News, 9 June 2005) that SSP was gearing up to float on the stock market after the software house reached a market valuation of £100m.

Sources now believe the software provider has reached a value of between £60m and £100m.

One source said: "SSP is a big company, not as big as Misys [Open GI], but its IT is more up-to-date.

"What is its value? £100m may not be crazy. SSP would be a good investment, better than Misys [Open GI].

"It may look to go on an acquisition drive after a float. Could Sirius be a target?"

The privately owned company acquired the I90-insurer system from Computer Sciences Corporation (CSC) in April 2005.