Apigee, developer of intelligent API platforms for digital business, last Friday filed an initial public offering, a process that the company initiated early this year. Apigee said in its filing that it expects to raise $86.3 million from the public offering, a modest placeholder amount that is likely to change after the company sets the final share price on the eve of its Wall Street debut. Apigee will trade on the Nasdaq under the ticker symbol 'APIC'.
Morgan Stanley, J.P. Morgan Securities and Credit Suisse Securities are acting as joint book-running managers for the proposed offering, and Pacific Crest Securities, JMP Securities and Nomura Securities International are acting as co-managers.
Apigee provides the API and predictive big data analytics technology that enable enterprises to take the pressure off of IT, launch API programs faster, onboard partners and developers at lower cost and thus, together accelerating the the growth of the API economy. The San Jose, California-based company boasts big brands as its customers, including global enterprises such as Walgreens, eBay, Burberry, Shell, Live Nation, and First Data.
