Remote-access software provider AppSense is planning an initial public offering with a consortium of bankers, according to news provider The Wall Street Journal.
WSJ has reported that insiders close to the deal confirmed that Goldman Sachs, which invested $70m in AppSense during February 2011, will be helping the firm put together its IPO, along with Citigroup and JP Morgan Chase.
No pricing or valuation has yet been targeted in the deal, which is in its early stages and isn’t expected until sometime next year. However, one banker familiar with the plan told the WSJ that the company could be worth anything from $750m to $1bn.
The $70m investment from Goldman Sachs is the only outside investment that AppSense has sought so far. The investment was in exchange for a 28% stake in the company, and Goldman managing director Pete Perrone, who has been with Goldman since 1999, joined the AppSense board of directors.
AppSense previously estimated that its software could generate a market worth £2bn annually by 2015, and has already attracted big name clients such as Wal-Mart. It said that its revenues from orders for the fiscal year ending on the 30th of June 2012 were in excess of $100m.
The company is yet to confirm or deny looking towards an IPO, only saying that, “The company doesn’t comment on rumour or speculation.”