AppDynamics works with Goldman Sachs, Morgan Stanley for IPO – source

<articleLocation” > U.S. company software application business AppDynamics has actually employed financial investment banks Goldman Sachs Group Inc and Morgan Stanley as lead underwriters for an initial public offering (IPO) that could come later on this year, a source said on Thursday. If San Francisco, California-based AppDynamics pushes on with its IPO strategies, it will sign up with a small club of U.S. innovation IPOs in 2012. Market volatility has left investors cautious of purchasing companies with little or no near-term profitability. The source asked not to be determined since the IPO strategies are private. Goldman Sachs and Morgan Stanley declined remark. AppDynamics could not be instantly grabbed comment.

Just two U.S. innovation business have actually priced their IPO this year: Acacia Communications Inc and SecureWorks Corp. Next week, cloud communications platform Twilio is anticipated to price its IPO.

AppDynamics makes software that manages and evaluates applications. It has 1,600 paying consumers, including Citrix Systems Inc, eHarmony, Kraft Inc, NASDAQ Inc and Nike Inc. It raised $158 million in November in a private round that valued the business at $1.9 billion. The Wall Street Journal first reported on AppDynamic’s IPO plans on Thursday.

( Reporting by Lauren Hirsch in New York; Editing by Alan Crosby).

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *