The Active Network files for $150 million IPO

The Active Network, which provides cloud computing applications that connect event organizers with potential participants, filed on Monday with the SEC to raise up to $150 million in an initial public offering. The San Diego, CA-based company, which was founded in 1998, booked $272 million in sales for the 12 months ended September 30, 2010. BofA Merrill Lynch and Citi are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.