SAS looks to streamline select operational processes, enhance financial reporting structure, increase focus on segments with growth potentials and begin other preparations for initial public offering by 2024.
Jim Goodnight, cofounder and CEO of SAS, said in a statement published Thursday the company’s move toward IPO preparedness is built on its established operational and financial foundation as well as sustainable growth resulting from its analytics and artificial intelligence offerings.
“By moving toward IPO readiness, we can open up new opportunities for SAS employees, customers, partners and our community to participate in our success.”
SAS will also continue responding to customer requirements through investments in and development of advanced analytics software and services as well as AI technologies.
The move follows SAS’ 45th consecutive year of profit growth, with the company reporting about $3 billion in revenue in 2020. Moreover, the company has consistently been recognized in Gartner’s Magic Quadrant for Data Science and Machine Learning Platforms, and has continually received workplace- and corporate community-related awards.
“Over the years, SAS has built a reputation for innovation, a relentless focus on the customer and strong sense of corporate identity. As we chart our path toward an IPO, we will continue to invest in our brand and platform, prioritizing our core values and empowering customers to solve their most complex problems,” said Goodnight.