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BancTec withdraws $75 million IPO

By Renaissance Capital,  August 14, 2012, 05:58:26 PM EDT

BancTec, which provides outsourcing services including payment and document processing, withdrew its plans for an initial public offering on Tuesday because it has entered into an agreement for the sale of the company. It refiled for an $75 million IPO in May 2011 following a previous attempt to raise $71 million in January 2010.

The Irving, TX-based company was founded in 1972 and booked $262 million in sales for the 12 months ended 6/30/2011. William Blair, Needham & Co., and D.A. Davidson were set to be the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: News Headlines, IPOs

Referenced Stocks: BTEC



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