San Francisco's ServiceSource Plans $75 Million IPO

SAN FRANCISCO (AP) - ServiceSource International Inc. is planning an initial public offering, according to documents filed with the Securities and Exchange Commission Monday.

ServiceSource helps technology companies increase contract renewals and service revenue in the healthcare and life sciences industries, using data analysis and sales people. The San Francisco-based company did not say how many shares it will sell or at what price.

For the purposes of calculating its registration fee, ServiceSource estimated the offering's maximum value at $75 million. It plans to use proceeds to repay debt and for working capital and other general corporate purposes.

ServiceSource said its revenue was $108.5 million for the nine months that ended Sept. 30, a 41 percent increase from the same period in 2009.

Morgan Stanley and Deutsche Bank are the lead underwriters.

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