Compuware (CPWR) Unit Covisint Corp Submits IPO Draft to SEC

December 14, 2012 8:01 AM EST Send to a Friend
Compuware Corporation (Nasdaq: CPWR) announced that Covisint Corporation, currently a wholly owned subsidiary of Compuware, submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission for a possible initial public offering of its Class A common stock.

The Proposed IPO is intended, among other things, to give Covisint greater flexibility to pursue strategic opportunities and to increase the company's visibility in the marketplace. The Proposed IPO is expected to commence within three to six months as market conditions permit and subject to the SEC's review process.


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