Rally Software, which provides cloud software to manage Agile-based software development, announced terms for its IPO on Tuesday. The Boulder, CO-based company plans to raise $69 million by offering 5.8 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Rally Software would command a fully diluted market value of $284 million.
Rally Software, which was founded in 2001 and booked $57 million in sales for the 12 months ended 1/31/2013, plans to list on the NYSE under the symbol RALY. Rally Software initially filed confidentially on 12/14/2012. Deutsche Bank and Piper Jaffray are the joint bookrunners on the deal.
