ExactTarget hires JPM, Deutsche for IPO: source

Mon Sep 12, 2011 7:33pm EDT

(Reuters) - Marketing company ExactTarget Inc has hired JPMorgan and Deutsche Bank for a second attempt at an initial public offering, a source familiar with the situation said.

The source declined to be named as the information is not public.

JPMorgan and Deutsche Bank declined comment. ExactTarget was not immediately available for comment.

ExactTarget sells email, SMS and online marketing software that allows companies to create and track marketing communications.

The company filed for an IPO of up to $86.25 million in 2007 in a deal led by Thomas Weisel Partners and William Blair & Co. It withdrew those IPO plans in May 2009, citing poor economic conditions and uncertain markets.

On the same day, the company said it had secured $70 million in equity financing from Battery Ventures, Scale Venture Partners and Montagu Newhall.

The news that ExactTarget had hired new banks for a repeat IPO attempt was first reported by Bloomberg earlier on Monday.

(Reporting by Clare Baldwin in New York; Editing by Gary Hill and Steve Orlofsky)

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