Fleetmatics Group sets range at $15-$17 for $125 million IPO

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Fleetmatics Group, a leading SaaS provider of fleet management solutions, announced terms for its IPO on Monday. The Dublin , Ireland-based company plans to raise $125 million by offering 7.8 million shares (20% insider) at a price range of $15 to $17. At the midpoint of the proposed range, Fleetmatics Group would command a fully diluted market value of $588 million. Fleetmatics Group, which was founded in 2004 and booked $108 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol FLTX. BofA Merrill Lynch and Barclays are the joint bookrunners on the deal.



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Referenced Stocks: FLTX

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