Employee recognition SaaS company Globoforce sets terms for $75 million IPO
Globoforce, which provides cloud-based social recognition
software solutions to enterprises, announced terms for its IPO on
Monday. The Dublin, Ireland-based company plans to raise $75
million by offering 4.4 million shares (33% insider) at a price
range of $16 to $18. At the midpoint of the proposed range,
Globoforce would command a fully diluted market value of $472
Globoforce, which was founded in 1997 and booked $187 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol THNX. Globoforce initially filed confidentially on January 9, 2013. J.P. Morgan, Credit Suisse, UBS Investment Bank and Stifel are the joint bookrunners on the deal.