Business & Tech
Top Tech Company to Occupy to Parkside Towers
Guidewire Software was named the top tech company to work for by Business Insider in 2011.
After becoming 2012’s first tech intial public offering on the NYSE yesterday, Guidewire Software Software, Inc. (NYSE: GWRE) has set its sights on Foster City.
The company, which creates property and casualty insurance software, is currently based in San Mateo. According to the Silicon Valley Business Journal, Guidewire has outgrown its space in San Mateo and plans to move its headquarters to 97,000 square feet of the Parkside Towers this summer.
In addition to its current headquarters in San Mateo, Guidewire also has offices in Beijing, Dublin, Hong Kong, London, Munich, Paris, Sydney, Tokyo and Toronto. The company's ClaimCenter application is the property and casualty industry's most widely used Web-based claims system as of January 2011, according to Gartner Inc.
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"We strive for excellence in software development and delivery to enable your excellence in insurance operations. We want to exceed your expectations about what a committed technology partner can deliver," Guidewire CEO Marcus Ryu in a release.
In 2011, Business Insider named Guidewire the best tech company to work for over Google, Microsoft and Apple.
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"Guidewire is chock full of talented and incredibly smart engineers that work alongside upper management, enabling "super-quick" upward job mobility," Business Insider wrote. "The company has a solid cash flow, and offers RSU's to new hires, which will be worth a ton when Guidewire eventually IPO's."
According to the Wall Street Journal, Guidewire's stock gained 32 percent on its first day of trading after yesterday's IPO. The company's stock opened at the IPO price of $13 and closed at $17.12. The offering was managed by J.P. Morgan Chase & Co. and Deutsche Bank AG.
"The company sold 8.85 million shares—1.4 million more than expected—at a price above its expected range of $10 to $12 a share," said the Wall Street Journal.
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