Friday, March 23, 2018

Pivotal Files For IPO

San Francisco-based Pivotal, which develops Agile development software, has filed for an IPO, saying in a filing with the SEC on Friday that it is looking to raise up to $100M in its IPO. The company's IPO is being underwritten by Morgan Stanley, Goldman Sachs & Co., Citigroup, BofA Merrill Lynch, Barclays, Credit Suisse, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, Keybank Capital Markets, and William Blair. Pivotal is backed by Michael Dell--who owns 80.8% of the firm before the IPO, including his ownership of Dell Technologies, EMC Corporation, and VMware--along with other investors, including General Electric, and Ford Motor Company.