Mobile Device Management Software Maker Good Technology Files for Public Offering
Good Technology, whose software allows businesses to manage their workers’ mobile devices, said Wednesday that it had filed the initial paperwork for a public stock offering.
The company, which filed a registration with the Securities and Exchange Commission, says it hasn’t determined the price or number of shares it will sell.
For the year ended Dec. 31, Good posted a $118.4 million net loss on revenue of $160.4 million. By comparison, in 2012, the company lost $90.5 million on revenue of $116 million. The revenue was a mix of recurring revenue and perpetual licenses. Through 2019, Good also recognizes intellectual property revenue from a 2009 deal with BlackBerry that included a $267.5 million license payment.
In January, VMware shelled out $1.5 billion for AirWatch, one of Good Technology’s chief rivals.
“They are a company much smaller than Good,” Good CEO Christy Wyatt said in a February interview. “It says a lot about the opportunity in this space.”
Good, which was once owned by Motorola, is currently privately held and backed by Blueprint Ventures, Draper Fisher Jurvetson, ePlanet Capital, GKM Newport, Meritech Capital Partners (MCP), Oak Investment Partners and Rustic Canyon Partners.