Deals
Cisco’s Secretive AppDynamics Deal May Pave Way for Unicorns
- Deal announced just hours before AppDynamics IPO set to price
- Market was closely watching deal, the first tech IPO of 2017
Cisco Pulls Trigger on $3.7B AppDynamics Buyout
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It was supposed to be the first technology IPO of 2017.
Less than a day before AppDynamics Inc. was set to price its shares Wednesday, a group of employees and investors flew to New York City to attend the traditional bell-ringing ceremony for new listings at the Nasdaq stock exchange, according to a person familiar with the details. Technology executives, investors and financiers were closely watching the deal, considered a crucial bellwether among so-called unicorns headed for public markets.