SAS Institute’s co-founder & CEO James Goodnight announced today that SAS was planning on a IPO. But no need to rush – the plan is to go public in 2024.
In early July, stories, rather concrete, circulated that SAS Institute was in talks to sell to chip giant Broadcom, for a price range of $15 to $20 billion. But it was reported that SAS had turned down Broadcom.
Cary, NC-based SAS trumpeted a possible return to growth, after years of being virtually flat, by posting 8.4% growth over the fist six months of 2021.
The announcement in part read:”To become IPO-ready, SAS will begin to take steps such as refining its financial reporting structure, streamlining certain operational processes, and enhancing its focus on the segments of its platform where the company can continue to succeed and grow to the benefit of its stakeholders. With this announcement, SAS will continue to invest significant sums in – and further develop – its AI capabilities and advanced analytics software and solutions, to continue to meet customer needs and extend its leadership in a growing, highly competitive and increasingly dynamic market.”
As for anything that looks ahead to 2024, don’t hold your breath.
SAS is fairly popular in the Philly area, mainly in life sciences, healthcare and other data intensive industries.