RedPrairie Holding Files Registration Statement For IPO With SEC - Update
(RTTNews) - Privately-held global productivity software solutions provider RedPrairie Holding, Inc. announced late Wednesday that it has filed a registration statement with the U.S. Securities and Exchange Commission or SEC, relating to a proposed Initial Public Offering or IPO. The company has not revealed the amount to be raised through the offering and what the proceeds would be used for.
Waukesha, Wisconsin-based warehouse management system provider RedPrairie noted that it is yet to decide on the number of new shares to be offered. However, some of the current shareholders would also sell their shares under the offering. The underwriters will have an option to purchase additional shares of common stock to cover overallotments, the company added.
BofA Merrill Lynch and Credit Suisse Securities (USA | Quote | Chart | News | PowerRating) LLC will act as joint bookrunning managers of the offering, while Oppenheimer & Co. and Needham & Co. will be acting as co-managers.
RedPrairie, acquired by California-based private equity firm Francisco Partners in May 2005 for $240 million, provides supply chain and retail store operations software that is centered largely on an advanced service-oriented architecture that allows management to adapt a program's function to changing technology and business requirements.
RedPrairie was originally named McHugh Freeman & Associates when founded in 1975, and also then named McHugh Software International. RedPrairie's solutions support business strategies for increasing revenue, reducing costs and creating competitive advantage through a combination of software and domain expertise. RedPrairie has over 20 global offices providing services to over 40,000 sites in 50 countries through its about 1,100 employees worldwide.
The warehouse and transportation software provider reported in July a revenue of over $130 million for the first half of 2009. RedPrairie's software license bookings for the same period totaled about $16 million.
While releasing the first-half results, Chief Executive Officer Mike Mayoras said, "We consider our performance this year a solid one so far, given the economic and competitive conditions with which we are faced. It's no secret that the global recession has affected many companies using inventory, transportation and workforce software. We continue to be committed to executing for our customers, and looking for opportunities to make the most critical areas of their businesses more productive and efficient."
For comments and feedback: contact editorial@rttnews.com
Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
Waukesha, Wisconsin-based warehouse management system provider RedPrairie noted that it is yet to decide on the number of new shares to be offered. However, some of the current shareholders would also sell their shares under the offering. The underwriters will have an option to purchase additional shares of common stock to cover overallotments, the company added.
BofA Merrill Lynch and Credit Suisse Securities (USA | Quote | Chart | News | PowerRating) LLC will act as joint bookrunning managers of the offering, while Oppenheimer & Co. and Needham & Co. will be acting as co-managers.
RedPrairie, acquired by California-based private equity firm Francisco Partners in May 2005 for $240 million, provides supply chain and retail store operations software that is centered largely on an advanced service-oriented architecture that allows management to adapt a program's function to changing technology and business requirements.
RedPrairie was originally named McHugh Freeman & Associates when founded in 1975, and also then named McHugh Software International. RedPrairie's solutions support business strategies for increasing revenue, reducing costs and creating competitive advantage through a combination of software and domain expertise. RedPrairie has over 20 global offices providing services to over 40,000 sites in 50 countries through its about 1,100 employees worldwide.
The warehouse and transportation software provider reported in July a revenue of over $130 million for the first half of 2009. RedPrairie's software license bookings for the same period totaled about $16 million.
While releasing the first-half results, Chief Executive Officer Mike Mayoras said, "We consider our performance this year a solid one so far, given the economic and competitive conditions with which we are faced. It's no secret that the global recession has affected many companies using inventory, transportation and workforce software. We continue to be committed to executing for our customers, and looking for opportunities to make the most critical areas of their businesses more productive and efficient."
For comments and feedback: contact editorial@rttnews.com
Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
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