Good Technology, a developer of mobile device management software, has filed for an initial public offering of shares with the SEC. For the purposes of the registration fee, it estimated proceeds from the listing at USD 100 million. It did not disclose yet how many shares will be sold or at what price. Good said it had no specific plans for using the proceeds, but aimed to create a public market for its stock and increase its financial flexibility.
The company generated a net loss of USD 118 million last year on revenues of USD 160 million. That compares to a loss of USD 90 million and revenues of USD 116 million in 2012. It finished 2013 with USD 42 million in cash remaining. Good, created from a spin-off from Motorola, counts a number of investment funds as its main shareholders. These include Oak Investment Partners, Draper Fisher Jurvetson and Lazard Technology Partners.
