News Column

Good Technology files for IPO

May 14, 2014

SUNNYVALE, Calif. (AP) — Good Technology, a mobile security company based in Sunnyvale, Calif., has filed plans for a possible initial public offering of its stock.

The company has not yet determined the number of shares to be sold or the price range. It outlined a maximum value of $100 million for the IPO in a regulatory filing, but that figure is an estimate used to calculate a filing fee.

Good Technology provides software that protects data transmitted between mobile devices for customers in financial services, health care and other industries. Its services enable companies to securely allow corporate data to be accessible on any device.

The company was created in 1996 as RoamPage Inc. It later renamed itself as Visto Corp. and began doing business as Good Technology after acquiring Good Technology Inc. from Motorola Inc. in 2009. It currently has more than 5,000 customers in 184 countries. It reported a loss of $118.4 million in 2013 on revenue of $160.4 million.

Good Technology said in its filing with the U.S. Securities and Exchange Commission that it will use the proceeds for working capital and other general corporate purposes, included for potential acquisitions.

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Source: Associated Press

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