Bloomberg News

Splunk Lifts IPO Price to $11-$13 a Share, $1.2 Bln Value

April 16, 2012

Splunk Inc. (SPLK:US), a maker of software that helps companies analyze data, increased the price range for its planned initial public offering to $11 to $13 apiece.

At the top of the range, the share sale would value the San Francisco-based company at $1.23 billion, if underwriters exercise an overallotment option, according to a filing today with the U.S. Securities and Exchange Commission. Splunk, which will trade under the symbol SPLK on the Nasdaq Stock Market, previously set a price range $8 to $10 a share.

Splunk delivers software through the Internet that helps companies monitor and analyze data to improve service, cut operations costs and reduce security risks. The company said it had more than 3,700 customers as of Jan. 31, including Bank of America Corp., Zynga Inc. and Harvard University.

Revenue in the fiscal year that ended Jan. 31 rose 83 percent to $121 million. Splunk’s net loss widened to $11 million from $3.8 million a year earlier, according to the filing.

Chief Executive Officer Godfrey Sullivan has run Splunk since 2008. He previously led Hyperion Solutions Corp. and helped sell that company for $3.3 billion to Oracle Corp. in 2007. In July, the company named David Conte as chief financial officer, gaining an executive with experience at a public company.

Morgan Stanley, Credit Suisse Group AG, JPMorgan Chase & Co. and Bank of America are leading the IPO. Pacific Crest Securities, UBS AG and Cowen and Co. are also working on it.

Paul Wilke, a Splunk spokesman, declined to comment.

To contact the reporter on this story: Lisa Rapaport in New York at lrapaport1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


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Companies Mentioned

  • SPLK
    (Splunk Inc)
    • $44.27 USD
    • -2.75
    • -6.21%
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