U.S. business software company AppDynamics has hired investment banks Goldman Sachs Group Inc and Morgan Stanley as lead underwriters for an initial public offering (IPO) that could come later this year, a source said on Thursday.
If San Francisco, California-based AppDynamics pushes on with its IPO plans, it will join a small club of U.S. technology IPOs this year. Market volatility has left investors wary of investing in companies with little or no near-term profitability.
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