SaaS firm Fleetmatics raises $132M in IPO
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Fleetmatics, a provider of commercial vehicle tracking software-as-a-service based in Wellesley and Dublin, Ireland, on Thursday night priced its initial public offering of stock at the high end of its proposed range, IPO tracker Renaissance Capital reported.
The company sold 7.81 million shares at $17 a piece, after proposing a range of $15 to $17, according to Renaissance Capital. The IPO raised $132.8 million in total.
The company’s shares are expected to begin trading Friday on the New York Stock Exchange under the symbol FLTX. Lead managers on the IPO were Barclays and Bank of America Merrill Lynch.
As of June 30, Fleetmatics served more than 16,000 customers who collectively tracked more than 281,000 vehicles using the
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