SOURCE: ServiceSource

ServiceSource

December 20, 2010 11:37 ET

ServiceSource Files S-1 Registration Statement for Initial Public Offering

SAN FRANCISCO, CA--(Marketwire - December 20, 2010) - ServiceSource®, a provider of solutions that manage renewals of maintenance, support and subscription agreements for technology companies, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined.

Morgan Stanley & Co. Incorporated and Deutsche Bank Securities Inc. are acting as the joint book-running managers for the offering. William Blair & Company, L.L.C, Lazard Capital Markets LLC, Piper Jaffray & Co. and JMP Securities LLC are acting as co-managers.

When available, a copy of the preliminary prospectus may be obtained from Morgan Stanley & Co. Incorporated, by telephone: (866) 718-1649; by standard mail at Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014; or by email: prospectus@morganstanley.com; and from Deutsche Bank Securities Inc., by mail at Deutsche Bank Securities Inc., 100 Plaza One, Attention: Prospectus Department, Jersey City, NJ 07311; or by telephone: (800) 503-4611.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About ServiceSource:

ServiceSource focuses on driving increased service revenue, profitability and customer satisfaction for technology and technology-enabled healthcare and life sciences companies. ServiceSource manages the sales process for renewals of maintenance, support and subscription agreements on behalf of its customers. ServiceSource's integrated solution consists of a suite of cloud applications, dedicated service sales teams working under our customers' brands and a proprietary Service Revenue Intelligence Platform. By integrating software, managed services and data, ServiceSource addresses the critical steps of the renewals process including data management, quoting, selling and service revenue business intelligence. ServiceSource's business is built on its pay-for-performance model, whereby its revenues are based on the service renewals customers achieve with its solution.