Home / Financial Report / Cloud Tech Firm Opower Goes Public to Raise $116M

Cloud Tech Firm Opower Goes Public to Raise $116M

CloudCloud energy management software provider Opower raised $115.9 million in its initial public offering Friday on the New York Stock Exchange, the Washington Post reported Friday.

Steven Overly writes that Arlington, Va.-based Opower’s shares climed 21 percent to $23 on the company’s first day of trading.

Goldman Sachs and Morgan Stanley served as book-running managers for the IPO, according to Overly.

Long-time friends Dan Yates and Alex Laskey founded the company in 2007 to offer technology for utilities to manage energy conservation programs.

Opower posted $887 million in sales last year.

Check Also

Feds Spend $612.2 billion on Healthcare Halfway into 2017

So far through fiscal year 2017, the Federal government has spent $612.2 billion on contracts …

HyTrust’s John De Santis: Agencies Should Adopt Platforms for Security Policy Enforcement

John De Santis, chairman and CEO of HyTrust, has said government agencies should adopt a strategic …

Subscribe to our Newsletter
I will subscribe later