A filing for an initial public offering has been made by another ‘cloud’ company called E2open, Inc. This IPO paperwork shows that the company and insiders will be selling shares in the IPO. No financial terms were disclosed and no ticker nor selected stock exchange were noted, although the filing is for up to $86.25 million in common stock.
Today’s filing shows that BofA Merrill Lynch is the sole book-runner in the offering; co-managers are listed as William Blair & Company, Pacific Crest Securities, Canaccord Genuity, and Needham & Company.
Seagate Technology LLC (NASDAQ: STX) is a 12.5% owner and other private equity and venture backers have more than 50% in combined interests in this company.
The company’s description of itself is as follows: “We are a leading provider of cloud-based, on-demand software solutions delivered on an integrated platform that enables companies to collaborate with their trading partners to procure, manufacture, sell and distribute products more efficiently. Our customers depend on outsourced manufacturing strategies and complex trading networks to compete in today’s global economy. They use our solutions to gain visibility into and control over their trading networks through the real-time information, integrated business processes and advanced analytics that we provide.”
Here are some other statistics. Its E2open Business Network has grown to over 29,000 unique registered trading partners. Revenue grew from $37.7 million in fiscal 2009 to $44.4 million in fiscal 2010 to $55.5 million in fiscal 2011. The company also noted that it has generated $42.7 million of revenue for the nine months ended November 30, 2011 and its backlog was up to $82.6 million.
JON C. OGG
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.