SAS Announces Plan to Get IPO Ready

Victoria D. Doty

The longtime analytics and AI pioneer explained that it would prepare to be prepared for an IPO by 2024.

Credit: JHVEPhoto via Adobe Stock

Credit: JHVEPhoto by using Adobe Stock

Analytics and AI pioneer SAS declared on July 29 that it is planning to be prepared for an first community supplying (IPO) by 2024. The information comes just a few months following studies about the firm at first staying in talks and then ending talks with Broadcom about a possible sale to the semiconductor large.

SAS’ CEO and founder Jim Goodnight emphasised the firm’s strength and balance in a statement issued by the firm.

“By going toward IPO readiness, we can open up new chances for SAS employees, shoppers, companions, and our neighborhood to participate in our results, making certain the brightest attainable future for all of us,” Goodnight explained in the prepared statement. “As an group, we are on a sound route forward, with sustainable expansion that carries on to construct on the dependable model and system we have designed. We have built a solid operational and monetary foundation, setting us up for an even better future. Now, it’s time to prepare for this future chapter.”

The mother nature of that future chapter, even so, is fewer crystal clear presented the prolonged planning period of time of 2 to three yrs for the IPO prep.

Omdia main analyst for AI platforms, analytics, and info administration Bradley Shimmin explained to InformationWeek that it’s difficult to speculate about what the announcement means and what will happen due to the fact the IPO readiness software is concentrating on a day so significantly out in the future. He characterised SAS as a firm whose leadership, Goodnight and co-founder John Sall, has taken the prolonged see when it comes to navigating a competitive sector landscape alternatively than grabbing at an immediate return.

“It is pretty attainable of training course that this is one more signal that portends a willingness to examine a partnership or acquisition option,” Shimmin explained. “Or it could truly replicate an curiosity in constructing toward an eventual IPO. I assume if this does position to a alter of character, then it may possibly signal the firm’s recognition that longstanding its leadership is considering stepping back again or going into a unique position about the prolonged phrase. Of training course, only time will explain to.”

Of training course an IPO can offer an exit method for a firm’s entrepreneurs, in this situation, Goodnight and Sall. Goodnight is now 78 yrs previous, and the mentioned timing of this IPO readiness — 2 to three yrs out — places a deadline ideal in between his eightieth and 81st birthdays.

The privately held firm furnished a rare glimpse within its financials in the IPO prep announcement, declaring that in 2020 it generated close to $three billion in revenue and achieved its forty fifth consecutive year of profitability. SAS also explained that it achieved an eight.four{394cb916d3e8c50723a7ff83328825b5c7d74cb046532de54bc18278d633572f} revenue expansion in the first half of 2021.

What to Read Next:

Facts and Analytics Salaries Warmth Up in Restoration Financial state

IT Professional Wage Survey: What You Earned in 2020

How a Wildlife AI System Solved its Facts Obstacle

 

Jessica Davis is a Senior Editor at InformationWeek. She covers enterprise IT leadership, professions, artificial intelligence, info and analytics, and enterprise software. She has invested a job covering the intersection of enterprise and engineering. Comply with her on twitter: … Watch Complete Bio

We welcome your comments on this subject matter on our social media channels, or [get hold of us directly] with issues about the website.

Extra Insights

Next Post

Cloud Security Basics CIOs and CTOs Should Know

Chief facts officers and chief know-how officers you should not are inclined to be cybersecurity specialists and nonetheless they could have obligation for it. Cloud stability is relatively one of a kind mainly because you cannot management every little thing. Credit: Rawf8 by means of Adobe Inventory Every company ought […]

Subscribe US Now