VIADOR, Enterprise Information Portal COMPANY, FILES FOR $46 MILLION IPO
WASHINGTON, July 30 (Reuters) - Viador Inc., whose Internet software lets businesses create enterprise information portals similar to popular consumer Internet portals that provide access to the web, filed for an initial public offering.
The San Mateo, Calif., company hopes to raise $46 million by going public, but it did not disclose how many shares are in the IPO or their estimated price range in its filing on Thursday with the Securities and Exchange Commission.
It is expected to release those figures in future filings.
Viador said its software is specifically designed for the world wide web and works with a customer's existing hardware and software systems without the need for additional technology costs.
The software also lets users securely deliver information over the Internet so they can conduct e-business.
Viador's customers include Charles Schwab Corp. (NYSE:SCH - news), the nation's largest discount and Internet brokerage, and International Business Machines Corp. (NYSE:IBM - news), the world's largest computer company.
Viador, formerly known as Infospace Inc., plans to use the net proceeds to fund operating losses, working capital needs and capital expenditures.
The company had 108 employees at the end of June, mostly in sales and marketing and engineering.
It hopes to have its shares traded on Nasdaq under the symbol (Nasdaq:VIAD - news), and the underwriters for the IPO are Bear Stearns, CIBC World Markets and U.S. Bancorp Piper Jaffray. |
