Cloud computing company unveils plans to go public
February 19, 2012
Foster City-based E2open Inc. has registered for an initial public offering to sell up to $86.2 million in stock. Founded in 2000, E2open is a provider of on-demand software solutions that enables companies to manage their supply chains. The company was recognized three years in a row as one of the Best Places to Work in the Bay Area by the San Francisco Business Times and the Silicon Valley Business Journal.
E2Open’s offering is being underwritten by BofA Merrill Lynch, William Blair & Company, Pacific Crest Securities, Canaccord Genuity, and Needham & Company…
Details of the offering, such as the number of shares to be sold or their expected price range, were not disclosed.
E2Open’s revenues grew from $37.7 million in the fiscal year ending Feb. 28, 2009 to $44.4 million in fiscal 2010 to $55.5 million in fiscal 2011.
For the nine months ending Nov. 30, 2011, the company reported $42.7 million in revenues and a loss of $1 million. It had posted a profit of $6.6 million in fiscal 2011.
President and CEO Mark Woodward joined E2Open in 2008. Previously, Woodward was a senior advisor to the Blackstone Private Equity Group. Prior to that, he served as President and CEO of San Mateo-based Serena Software before taking the business private in a deal worth $1.3 billion, the largest leveraged buyout ever completed in the software industry.