Software maker Talend has hired investment banks to help it manage a potential initial public offering, according to Fortune.
The U.S.-based company makes open-source software that helps businesses manage, integrate and analyze their data.
Talend would be one of just a few tech IPOs in the past six months.
Talend has registered its IPO confidentially with the U.S. Securities and Exchange Commission, according to Fortune’s sources, and could launch an IPO soon.
It’s been over six months since a single venture-capital backed U.S. technology IPO, according to Fortune. So far, SecureWorks is the only tech company to launch an IPO this year, but the Dell-owned cybersecurity company raised significantly less than the $181 million it had originally hoped for. The company raised $112 million and priced 8 million shares at $14. SecureWorks had initially priced shares at $15.50 to $17.50, according to filings with the Securities and Exchange Commission.
The shaky performance of tech stocks over the last several months has chilled investor response. But business software companies in have been one of the few bright spots in the tech landscape. The demand for tools that can help enterprises work more efficiently and effectively has been on the rise.
In December, shares of Australian business software maker Atlassian Corp jumped as much as 33.3% in their market debut. The company had one of the most highly valued initial public offerings of the year at about $5.85 billion.
A few other tech companies, including Acacia Communications, are reportedly also looking to launch IPOs soon, so the tech market may at last be coming to life again.