Thursday, February 13, 2014

Q2 Files For IPO

Austin-based banking sofware developer Q2 has filed for an IPO, saying in a filing this morning that it is looking to raise up to $138M in an IPO under the symbol QTWO. The company has not yet selected an exchange. The IPO is being underwritten by J.P. Morgan Securities LLC, Stifel, Nicolaus & Company, as well as RBC Capital Markets, Raymond James & Associates, Canaccord Genuity and Needham & Company. Q2 is venture backed by Adams Street Partners, Battery Ventures, and others; the firm reports revenues of $41.1M for the year ending December 31, 2012, and nine month revenue of $41.2M for the period ending September 30, 2013.