Inrix Inc, which provides road traffic data, is working with Goldman Sachs Group Inc (GS.N) and JPMorgan Chase & Co (JPM.N) to help it file for an initial public offering likely next year, the Wall Street Journal reported.
The company, spun off from Microsoft Corp (MSFT.O) and known for its mobile app Inrix Traffic, could raise up to $100 million in its IPO, WSJ said, quoting sources familiar with the matter. r.reuters.com/duw23t
Inrix's client FleetMatics Group Plc (FLTX.N), which offers GPS fleet tracking software to small and medium-sized businesses that own fleets of commercial vehicles, listed its shares on the New York Stock Exchange last week, raising about $133 million.
Inrix declined to comment on the WSJ report.
(This story was corrected in paragraph 3 to say Fleetmatics is an Inrix client, not a rival. The story was earlier corrected to say Inrix's mobile application is called Inrix Traffic and not Traffic.)
(Reporting by Sayantani Ghosh in Bangalore; Editing by Supriya Kurane)