Jan 18 Data analysis software company Tableau
Software has hired banks for an initial public offering that
could come in the third quarter of this year, according to three
sources familiar with the matter.
The Seattle-based company, one of the most
highly-anticipated technology offerings of the year, has hired
Goldman Sachs, Morgan Stanley, Credit Suisse
and JP Morgan to lead the offering, which
could raise around $200 million in proceeds, the sources said.
Morgan Stanley, Credit Suisse and JP Morgan declined to
comment. Tableau and Goldman Sachs could not be reached for
Tableau's products turn complicated data into graphics and
charts for clients like Barclays PLC, Charles Schwab
Corp, Kimberly-Clark Corp and Exxon Mobil
Tableau is hoping to tap into a market for business
analytics software that is expected to reach $50.7 billion
globally by 2016, according to market research firm IDC.
Tableau's investors include venture capital investors New
Enterprise Associates and Meritech Capital Partners.
Business software is a bright spot within the technology
sector, which has seen consumer-facing Internet companies like
Zynga Inc, Groupon Inc and Facebook Inc
struggle in the public markets.
Meanwhile, companies like Eloqua Inc and Workday
Inc, which went public last year, are among the best
performing IPOs of the 2012. Eloqua shares have more than
doubled, and Workday's are up 80 percent, since their debuts.