The Tech IPOs Keep Coming

This week, two tech IPOs are expected to hit the market. No doubt, the space has been hot. Last week the public offering of Splunk (NASDAQ:SPLK[1]) doubled, and there were strong performances by Infoblox (NYSE:BLOX [2]) and Proofpoint (NASDAQ:PFPT[3]).
Do not expect the same kind of action from this week’s tech deals.
Here’s a look:

Acquity Group (NYSE:AQ)

Based in Hong Kong, the company provides consulting services for e-commerce and online marketing. Clients include Allstate Insurance (NYSE:ALL[5]), Discover (NYSE:DFS[6]), Shimano and Tommy Bahama.
From 2010 to 2011, revenues jumped from $72.6 million to $106.7 million. Last year there was a net profit of $8.3 million.
The company plans to offer 5.6 million shares at a range of $8 to $10. Lead underwriters include Citigroup (NYSE:C[7]) and Oppenheimer.

Envivio (NASDAQ:ENVI )

The company develops Internet-based video-processing software. It uses a sophisticated compression technology that allows for a high-quality TV experience, and it’s available for a broad array of platforms, including tablets, smartphones, notebooks and PCs.
In fiscal 2012 (which ended on January 31), revenues climbed 69%, to $51 million. Net income was $138,000.
The company plans to issue 7.8 million shares at a range of $10 to $12. Lead underwriters include Goldman Sachs (NYSE:GS[9]), Deutsche Bank Securities (NYSE:DB[10]) and Stifel Nicolaus Weisel.


By Tom Taulli | April 23, 2012 10:35 am
Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He also is the author of “The Complete M&A Handbook”[11], “All About Short Selling”[12] and “All About Commodities.”[13] Follow him on Twitter at @ttaulli[14] or reach him via email[15]. As of this writing, he did not own a position in any of the aforementioned securities.