Software company Veeva files for IPO of up to $150 million

(Reuters) - Life sciences-focused software company Veeva Systems Inc filed with U.S. regulators to raise up to $150 million in an initial public offering of its common stock.

Veeva, which competes with Oracle Corp, provides web-based software for pharmaceutical representatives that allows them to track drug information and to provide documentation and data to their sales forces.

The company's clients include some of the biggest pharmaceutical companies in the world such as Novartis AG, Merck & Co Inc, Eli Lilly and Co and Bayer AG.

Reuters reported in April that Pleasanton, California-based Veeva was planning an IPO that could come in the third quarter.

Morgan Stanley and Deutsche Bank Securities are the lead underwriters for the IPO, Veeva told the U.S. Securities and Exchange Commission in a preliminary prospectus on Wednesday.

The filing did not reveal how many shares the company planned to sell or their expected price. (http://link.reuters.com/rym92v)

Veeva, which intends to list its common stock on the New York Stock Exchange under the symbol "VEEV," said that net proceeds from the offering would be used for working capital purposes.

The company, which received $4 million in funding from venture capital firm Emergence Capital Partners LP in 2008, reported a profit of $599,000 on revenue of $61.2 million in 2012.

Emergence Capital is Veeva's largest shareholder with a more than 30 percent stake.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

Gogo (GOGO) 2 months after IPO

• ticker:  GOGO

Gogo Inc., (GOGO),  the largest provider of inflight Internet in the U.S., on Wednesday plans to unveil a system that uses a combination of satellites and cellular towers, connecting airplanes to the Web at speeds six times as fast as its current best option.

Virgin America Inc. will launch Gogo's new inflight Wi-Fi service in the second half of 2014 and says it expects to eventually upgrade its 53 aircraft with the product.

That comes after JetBlue Airways Corp. JBLU -1.74% received government approval last week to install a new high-capacity satellite link on many of its aircraft, an inflight Wi-Fi solution that can support streaming video to fliers' devices from Netflix Inc. NFLX -0.38% and Hulu, among others.

JetBlue, which has lacked inflight Internet, plans to launch the service on some aircraft this year and equip its entire fleet of 180 aircraft by the end of 2015.

Gogo sets the prices for its onboard Wi-Fi, with options including $14 one-day passes and $50 monthly passes.

JetBlue said it is reviewing pricing for the service, but that basic Internet use initially will be free, while the airline will charge fliers for streaming content, which uses more bandwidth. Other airlines that provide Wi-Fi currently block access to streaming services like Netflix, to avoid cannibalizing their own fee-based inflight entertainment.

The new technologies could mean Internet speeds in the air that are at least as fast as the average Internet speeds for Americans on the ground—something that could help break down flier resistance to paying and make the service profitable.

Empire State Building owners to pursue IPO plan

NEW YORK (Reuters) - Malkin Holdings LLC said on Friday it planned to pursue a public listing for the Empire State Building after reviewing several bids to buy control of the landmark New York skyscraper.
Ticker:  ESRT

In a filing to the Securities and Exchange Commission, the holding company said it had "received indications of interest to purchase the fee and/or operating lease positions of the Empire State Building, as well as one indication of interest to purchase the fee and operating lease positions of One Grand Central Place".

But after a review, the company decided it was in the best interest of investors to proceed with the consolidation and initial public offering.

The building and its investors are managed by Malkin Holdings, which spearheaded a plan to roll the skyscraper, once the world's tallest building, into a real estate investment trust, called Empire State Realty Trust Inc, containing more than 18 properties.

Malkin Holdings was advised by Lazard Freres & Co LLC.

A spokesman for Malkin declined to comment beyond the filing.

Opened in 1931 during the Great Depression, the Empire State Building is one of New York's leading tourist attractions - known for its Art Deco tower and its colored light display at night.