Halogen raises $55 million through initial public offering

Halogen Software Inc has completed a $55 million initial public offering, the first such listing by a Canadian software firm in more than three years and the largest IPO by an Ottawa-based high tech company since Mitel Networks Corp went public in 2010. The IPO raised $50 million through an offering of nearly 4.4 million shares at $11.50 while another 434,782 common shares were sold by JMI Equity Fund VI LP for total gross proceeds of $5 million. Halogen has been a privately held company since its launch in 1996 and the proceeds of the IPO will be used to expand sales and marketing and boost product development. The company, which employs approximately 300, creates cloud-based software for human resources management including recruitment, performance management, learning and development, succession planning and compensation. It has more than 1,750 customers worldwide….