RealTime IT News

Vignette Files for $30 Million IPO

Enterprise solutions provider Vignette Corp. filed Tuesday with the Securities and Exchange Commission for an initial public offering of $30 million in common stock.

The company applied to trade on Nasdaq under the symbol, "VIGN," but did not disclose the amount of shares it plans to offer nor their initial public offering price. Vignette said it plans to use the net proceeds for working capital and general corporate purposes.

The IPO underwriters, Morgan Stanley Dean Witter, Hambrecht & Quist and Dain Rauscher Wessels, have an over-allotment option on an undisclosed amount of additional shares.

Vignette is best-known for its StoryServer product, a Web content management system which integrates enterprise applications and extends systems with third party Web solutions.

In late June the company released StoryServer 4, a collaborative desktop application in which authors, editors, designers, developers and business managers can develop, manage and run the Web sites.

Also in late June, Austin, Texas-based Vignette said it was shifting its corporate strategy to focus on Internet Relationship Management (IRM), an evolving sector of enterprise applications. IRM applications focus on managing customer relationships in throughout the duration of the online customer lifecycle.

"As more and more companies turn to the Internet to interact with customers and partners, Web sites are increasingly becoming business-critical. Building online business processes to attract, engage and retain customers begins with content management," said Ross Garber, Vignette chairman.

"Leveraging our strong roots in content management, we are well-positioned to evolve as the dominant Internet relationship management solutions vendor with the addition of StoryServer 4's sophisticated personalization and profiling capabilities."

In July, Vignette announced that it was diversifying its investor base, with CNET selling its $5 million worth of holdings in the company, which equaled about 20 percent of its initial investment in Vignette.

The company also reported that during the period of April to June, it signed 40 new customers for StoryServer 4, including Lands End, Hewlett-Packard and Lufthansa. Other customers include National Semiconductor, Bay Networks, Ziff-Davis' ZDNet and CNET.