Dynatrace Holdings, which provides a software intelligence platform for the enterprise cloud, announced terms for its IPO on Monday.
The Waltham, MA-based company plans to raise $427 million by offering 35.6 million shares (4% insider) at a price range of $11 to $13. Dragoneer Investment Group intends to purchase $75 million worth of shares in the offering. At the midpoint of the proposed range, Dynatrace Holdings would command a fully diluted market value of $3.8 billion.
Dynatrace Holdings was founded in 2005 and booked $431 million in revenue for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol DT. Goldman Sachs, J.P. Morgan, Citi, Barclays, Jefferies, RBC Capital Markets and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of July 29, 2019.
