Bloomberg News

Splunk Files for $125 Million Software Initial Public Offering

January 13, 2012

Jan. 12 (Bloomberg) -- Splunk Inc., a maker of software that helps companies analyze data, plans a $125 million initial public offering.

The San Francisco-based company didn’t say how many shares it will offer or at what price in a filing today with the U.S. Securities and Exchange Commission. The stock will trade under the symbol SPLK. Morgan Stanley is leading Splunk’s IPO, and JPMorgan Chase & Co., Credit Suisse Group AG and Bank of America Corp. will also work on the sale.

Splunk, which delivers its software through the Internet, announced its offering plans after 19 Internet companies generated $6.6 billion in U.S. IPOs last year, according to data compiled by Bloomberg. In July, the company named David Conte as chief financial officer, gaining an executive with experience at a public company.

Chief Executive Officer Godfrey Sullivan has run Splunk since 2008. He previously led Hyperion Solutions Corp. and helped sell the company for $3.3 billion to Oracle Corp. in 2007.

Splunk has won business by helping companies monitor and analyze the data they produce to improve service, cut operations costs and reduce security risks. The software provider had more than 3,300 customers as of Oct. 31, including Bank of America, Zynga Inc. and Comcast Corp., it said.

Wider Net Loss

Revenue in the nine months through Oct. 31 jumped 79 percent to $77.8 million from a year earlier while the net loss widened to $9.7 million from $2 million, Splunk’s filing showed.

Morgan Stanley led nine U.S. Internet IPOs last year, more than any other underwriter, Bloomberg data show. The New York- based bank garnered an estimated $1.3 billion of fees working on initial offerings by Zynga, Groupon Inc., LinkedIn Corp. and Yandex NV.

Separately, Cinco Resources Inc., the oil and natural gas exploration and production company, said it plans to raise as much as $173 million in a U.S. IPO led by Citigroup Inc. and Wells Fargo & Co. The stock will list on the Nasdaq Stock Market under the symbol CINC, the company said in a regulatory filing.

--Editors: Elizabeth Wollman, Nick Turner

To contact the reporter on this story: Lee Spears in New York at lspears3@bloomberg.net

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net


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