NetSuite Raises IPO Price Range
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NetSuite has raised the estimated price range for its initial public offering, now being conducted online.
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NEW YORK/PHILADELPHIA: Oracle Corp yesterday raised its hostile takeover offer for rival software company PeopleSoft Inc by 14 per cent to $US8.
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Hosted business software provider NetSuite hopes to raise $75 million in an initial public offering.
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NEW YORK -- The IPO market may not be as large as it once was, but there is still expected to be plenty of room for this week's debut of private equity powerhouse Blackstone Group, likely one of the biggest initial public offerings in US history.
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Equity Office Properties Trust  said on Tuesday that the Blackstone Group  raised the price of its takeover bid to $55.50 per share, after rival bidder Vornado Realty Trust  sweetened its own offer.
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United Technologies Corp., which wants to buy Kidde Plc to add fire equipment to its Chubb security unit&#39;s offerings, raised its bid for the company by about 3 percent to 1.38 billion pounds ($2.67 billion), Kidde said.
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Wells Fargo Securities raised the target price on PeopleSoft (nasdaq: PSFT - news - people ) to $26, following Oracle&#39;s increased bid of $24 per share for the enterprise software company.
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(InfoWorld) - NetSuite, a provider ofÂ hosted applications for midsize businesses, will announce Thursday that it has beefed up the electronic commerce capabilities of its software suite and has teamed up with online auction giant eBay Inc. in order to attract larger electronic retail (e-tail) customers. The on-demand vendor offers a combination of applications targeting customers whose businesses have outgrown Intuit's QuickBooks accounting software, but aren't looking to take on the complexity of enterprise applications provided by vendors like SAP and Oracle. To date, NetSuite's e-commerce capabilities have been aimed at electronic retailers whose Web sites generate average annual revenue of under $10 million. "We're now releasing features to target larger, midsize e-tailers, not just B2C [business-to-consumer], but also B2B [business-to-business]," Zach Nelson, NetSuite's CEO, said in a recent interview. "What we're offering is the full multi -- multisite, multilanguage, and multicurrency," he added. Many larger electronic retailers are running tens of Web sites and have previously had to integrate each of those sites separately with their back-end ERP and CRM applications, Nelson said. Going forward, NetSuite users will be able to publish different Web sites from a single NetSuite account, each site featuring its own products, domain name and specific look and feel. In terms of languages, NetSuite will support Chinese, French, German, Japanese, Russian, and Spanish. NetSuite also announced a partnership with eBay to tightly integrate the auction site's online marketplace with NetSuite's applications suite. The integration will make it easier for users of NetSuite's applications to list and sell items on eBay, monitor live eBay auctions from within their NetSuite software, and then automatically create customer records and sales orders once an auction is completed. The two companies will offer the combination of their technologies to eBay's high-volume sellers who are called Power Sellers, Nelson said. The upper limitation for NetSuite's new e-commerce offerings going forward will likely be sellers with annual revenue of between $200 million and $300 million or those receiving more than 10,000 orders per day, Nelson said. However, he added that NetSuite already has several customers whose revenues are several billion dollars, notably integrated circuit vendor Linear Technology and ink and toner cartridge refill supplier Cartridge World. Nelson does see NetSuite's applications rivals getting more serious about appealing to electronic retailers. For instance, Oracle has its iStore e-commerce application, whileÂ SAP acquired e-commerce vendor PraxisÂ in November and Salesforce.com is turning its AppExchange Web site into a fully functioning online marketplace for hosted software. Â
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Online auction The long-rumoured and speculated Initial Public Offering (IPO) by Netsuite, the software as a service (SaaS) specialist, is at last underway. and it looks like it will use a novel way to determine the share price and the volume of shares to be issued.â¦
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NetSuiteâs initial public offering raised $185.4 million, close to double the amount the company originally forecast the I.P.O. would generate.
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Blackstone Group's initial public offering is seeing heavy demand from investors vying for shares of the biggest U.S. IPO in five years, which plans to price on Thursday.
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International Business Machines Corp. on Thursday told Wall Street to raise its 2008 estimates, further boosting a stock that was already buoyed by strong fourth-quarter earnings.
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InfoWorld - Hosted business software provider NetSuite hopes to raise $75 million in an initial public offering.
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InfoWorld - NetSuite's initial public offering raised $185.4 million, close to double the amount the company originally forecast the IPO would generate and a positive sign for the market of hosted, software-as-a-service business applications.
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NetSuite has raised the estimated price range for its IPO (initial public offering) to $16 to $19, from the original $13 to $16.The company made the disclosure in a document filed Tuesday with the U.S. Securities and Exchange Commission.The company is&#160;following the lead of Google in conducting an online, auction-style IPO, instead of having underwriters set the price.&#160;The auction opened on Dec. 10&#160;and NetSuite said at the time it expects the stock&#39;s price to be finalized on Wednesday.NetSuite, which sells a line of hosted business software, is putting up 6.2 million shares of common stock. NetSuite expects to net about $98.4 million after expenses from the IPO, it said in the filing. That estimate assumes the stock will price at $17.50.NetSuite has said it plans to use money generated by the IPO to pay off an $8 million balance on a line of credit with Tako Ventures, an entity controlled by Oracle CEO Larry Ellison, and to possibly make acquisitions.Ellison controls about 60 percent of NetSuite&#39;s outstanding stock, which works out to about 31.9 million shares. He plans to put those shares into a &quot;lockbox&quot; limited-liability company, a move that would &quot;effectively eliminate&quot; his voting control and thereby avoid potential conflicts of interest, NetSuite has said.
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Oracle yesterday raised its hostile takeover offer for rival software company PeopleSoft by 14%, to $8.8bn (Â£4.37bn), and for the first time set a deadline for acceptance of the bid.
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Oracle Corp. raised its takeover offer for PeopleSoft Inc. by 14 percent to $8.8 billion, increasing the pressure on the smaller software company to give up its 17-month fight against the bid.