AppDynamics, which provides application performance management software for large enterprises, was acquired by Cisco (Nasdaq: CSCO) for $3.7 billion. It had filed to raise $156 million in an IPO by offering 12 million shares at a price range of $12 to $14. At the midpoint of the proposed range it would have commanded a fully diluted market cap of $2.0 billion.
The San Francisco, CA-based company was founded in 2008 and booked $206 million in sales for the 12 months ended October 31, 2016. It had planned to list on the Nasdaq under the symbol APPD. Morgan Stanley, Goldman Sachs, J.P. Morgan, Barclays, UBS Investment Bank and Wells Fargo Securities were set to be the joint bookrunners on the deal.
