Big data firm Talend soars 54 percent in debut

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Shares of Talend SA, whose software helps businesses crunch large amounts of data, jumped 54 percent in their U.S. debut, valuing the company at $773.7 million.

The offering of 5.25 million American Depository Shares (ADSs) was priced at $18 each – above the expected range of $15.00-$17.00 – and raised about $94.5 million.

The company’s shares opened at $27.66 and hit a high of $28 on the Nasdaq in early trading.

Talend is backed by venture capital firm Balderton Capital and Sumeru Equity Partners Inc, the former middle-market investing arm of private equity firm Silver Lake Partners LP.

Talend’s listing is one of the first venture-capital backed U.S. IPOs in nearly six months.

The offering comes at a time when many companies stay away from listing themselves in a choppy market.

Talend, founded in 2006, makes open-source software that helps companies manage and integrate their data. It has more than 500 employees, many of whom are in France, where it has research development centers, according to its website.

The company, headquartered in Redwood City, California, counts General Electric Co, Citigroup Inc and insurer Allianz SE as some of its customers, according to the IPO filing.

The company’s total revenue rose about 34 percent to $22.8 million for the quarter ended March 31, while net loss narrowed to $5.3 million from $5.9 million from a year earlier.

Talend’s products can help manage databases that are coded in an open-source software system like Hadoop. Hortonworks Inc, another company using Hadoop open-source software, went public in December and has been trading below its IPO price of $16 per share.

Goldman Sachs, J.P. Morgan Securities LLC, Barclays Capital Inc and Citigroup Global Markets are among the joint book-running managers for the offering.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Don Sebastian)