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Buzzer beater acquisition: AppDynamics officially withdraws $156 million IPO; acquired by Cisco

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AppDynamics, which provides application performance management software for large enterprises, withdrew its plans for an initial public offering on Thursday. It agreed to a $3.7 billion buyout by Cisco, one day ahead of the expected pricing of its IPO. It had earlier increased the proposed range for its IPO to $12 to $14, and was planning on raising $156 million by offering 12 million shares.

The San Francisco, CA-based company was founded in 2008 and booked $206 million in sales for the 12 months ended October 31, 2016. It had planned to list on the Nasdaq under the symbol APPD. Morgan Stanley, Goldman Sachs, J.P. Morgan, Barclays, UBS Investment Bank and Wells Fargo Securities were set to be the joint bookrunners on the deal.

The article Buzzer beater acquisition: AppDynamics officially withdraws $156 million IPO; acquired by Cisco originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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


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

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