IDS Group Inc files for $86.25 mln IPO

WASHINGTON, Feb 14 (Reuters) - IDS Group Inc filed with regulators on Thursday to raise up to $86.25 million in an initial public offering of common stock.

The company, which provides software for financial institutions and equipment manufacturers, said in a filing with the U.S. Securities and Exchange Commission that Thomas Weisel Partners LLC, Piper Jaffray, Robert W. Baird & Co, and Needham & Co are underwriting the IPO.

IDS plans to list its stock on the Nasdaq under the symbol "IDSI." (Reporting by Karey Wutkowski)