San Jose tech company Apigee, a fast-growing software maker, is reportedly preparing for an initial-public offering.
Apigee is in talks with bankers for an IPO that could raise more than $700 million, according to a report Tuesday by Reuters. At that price, Apigee s IPO would be larger than all but one from a California company last year, likely positioning it to be one of the largest of 2015.
Lending Club raised more than $865.5 million in December to become the largest deal from the state in 2014.
Apigee, which has 400 employees, develops software for businesses to manage Web applications and data. It provides tools to manage technology known as application program interface, or API — the software that helps connects applications on the Internet — so businesses can better gather and analyze data, create a better user experience and keep data secure from cyber threats. It was recently named the fifth fastest-growing company in North America among technology, media, telecommunications, life sciences and clean technology firms.
This year is expected to be a blockbuster one for tech IPOs. According to a study released this month by Chicago-based consulting group BDO USA, capital market experts and investment banks expect 2015 to either match or exceed 2014, which saw the largest number of IPOs since 2007 and the most money raised since 2000. Yet there is more cash to be made this year, as the study forecasts a 2 percent increase in U.S. IPOs, which could raise $85 billion in total, about a billion more than last year.
