Guidewire Software, Inc. Has Filed $ 100 Million In An IPO
Guidewire Software is top provider of core system software market, that caters to the P&C insurance industry is fragmented and highly competitive. This company always wanted to empower Property and Casualty insurance carriers so that they can transform and develop their businesses by substituting their traditional core system to this company’s modern innovative software platform. It has more than 100 clients in 12 countries with offices in 10 nations.
Guidewire PolicyCenter, Guidewire ClaimCenter and Guidewire BillingCenter are the three main software products of this company. All these work toward providing a wide range of core P&C insurance operations. According to Gartner, Inc., ClaimCenter, the first application of this company, is the most widely used web-based claims system in the P&C insurance industry as of January 2011.
Guidewire Software, Inc.- Partners And Funding
The company has extensive relationships with consulting, system integration and industry partners. Capgemini, IBM Global Services, Ernst & Young and PricewaterhouseCoopers are the system integration partners of this company. This company receives funding from Bay Partners, U.S. Venture Partners.
This market is subject to change in technology, introduction of new products & services and shifting client needs. The competitors of Guidewire Software, Inc. vary in size, breadth and scope of the services or products offer. The lists of current competitors include:
|Internally developed software||Many large insurance companies that can develop their own software and systems|
|IT services firm||Accenture, MajescoMastek, Computer Sciences and Tata Consultancy Services Limited|
|P&C software vendors||AQS, Inc., One Shield, Inc., Duck Creek (acquired by Accenture recently) and StoneRiver, Inc.|
|Horizontal software vendors||Oracle Corporation, SAP AG and Pegasystems|
The company has reported that it earned revenues of $ 144.7 million in the financial year 2010. It has also declared revenue generation of $ 121.5 million for the nine months ended on 30th April for the fiscal year 2011. Guidewire Software, Inc. has generated net income of $ 15.5 million in the year 2010 and $ 33.5 million in the first nine months of the year 2011.
In September 2011, this company has filed with the SEC (Securities and Exchange Commission) to raise up to $ 100 million in an IPO (Initial Public Offering) of its common stock. However, the number of shares that it would offer and their price range has not been disclosed yet. Deutsche Bank Securities, J.P. Morgan Securities LLC and Citigroup would manage the IPO, while Pacific Crest Securities and Stifel Nicolaus would act as co-managers.
A registration statement in relation to these securities has been filed with the SEC however; it has not become effective yet. The securities cannot be sold or offers to buy can be accepted until the registration statement is accepted. It must be noted that offering would be made by means of a prospectus and it can be obtained from J.P. Morgan Securities LLC.