The initial public offering of MatrixOne, a software company that develops Internet business collaboration solutions, is expected to get off to an extremely strong start today. The company priced five million shares at $25 per share, above the IPO’s revised price range of $20 to $22 and more than double the low end of the original range of $12 to $14.
In a week full of hot IPOs, MatrixOne could well be one of the hottest. MatrixOne, which has Compaq as a shareholder, should benefit from a strong underwriting team led by Goldman Sachs. MatrixOne’s eMatrix software facilitates collaboration among different departments and geographic locations of global businesses. The company’s customers include 3Com and Honda.