San Mateo-Based SuccessFactors to Raise $186 Million Through Offering

San Mateo, Calif. -- SuccessFactors, a San Mateo-based developer of web-based performance and talent management software, said that it plans to raise $186 million in its previously announced public offering. The company plans to sell 12 million shares for $15.50 each through the offering, which is set to close on Monday. Underwriters Goldman, Sachs, Deutsche Bank Securities and Morgan Stanley will have the option to buy up to 1.8 million more shares, to cover any over-allotments. The company said that it plans to use the net proceeds for working capital and general corporate purposes, including potential acquisitions.
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