May 15, 2013 / 5:36 PM / 5 years ago

Tableau Software raises IPO price range

May 15 (Reuters) - Data analysis software maker Tableau Software Inc said it now expects to raise up to $248.4 million from its initial public offer, up from $215.3 million that it expected earlier.

The company, whose customers include Deere & Co, Sears Holdings Corp and affiliates of Deloitte Touche Tohmatsu Ltd and Verizon Communications Inc, said the shares offered would be priced at $28 to $30 each. ()

Tableau had estimated the offering price at $23 to $26 per share on May 6.

The company will sell 5 million shares in the offering, while shareholders will sell 2.2 million shares. The underwriters of the IPO have the option to purchase up to an additional 1,080,000 shares.

Goldman Sachs and Morgan Stanley are acting as lead underwriters to the offering.

Seattle-based Tableau, expected to debut on the New York Stock Exchange on Friday under the symbol “DATA,” plans to use the proceeds raised for working capital, sales and marketing activities and investment purposes.

The company reported revenue of $127.7 million for the year years ended Dec. 31.

Business software maker Compuware Corp’s cloud software business Covisint filed on Tuesday with U.S. regulators to raise up to $100 million in an IPO.

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