New IPOs for US Software Companies
After the Easter holidays, a number of companies have signaled their interest in going public with three, tech-savvy start-ups filing for IPOs.
In contrast to recent IPOs, which were old-school, private-equity-backed offerings, these three start-ups have software development at their core.
Splunk, (San Francisco, CA, USA) a maker of software to analyze data, has been underwritten by Morgan Stanley, Credit Suisse and JPMorgan. It is a fast-growing but currently unprofitable organisation, and has set its 13.5 million IPO shares at 8 to 10 apiece, potentially raising $122 million.
Infoblox (Santa Clara, CA, USA) is a firm makes technology for data centers that “combines real-time IP address management with the automation of key network control and network change and configuration management processes in purpose-built physical and virtual appliances.” They are hoping to raise $98 million at the midpoint. Morgan Stanley and Goldman Sachs are its lead underwriters.
Finally, Proofpoint (Sunnyvale, CA, USA). A small company that offers a “cloud” version of data-protection software, meant to fend off hackers and cybercriminals. Currently unprofitable, it has set a midpoint target of raising $68 million. Underwriters include Credit Suisse and Deutsche Bank.