As expected (CI No 3,682), application server company Bluestone Software Inc has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. Mount Laurel, New Jersey- based Bluestone hopes to raise $46m through the IPO. That sum is earmarked for product development, sales and marketing and to be used as working capital. Deutsche Bank Alex Brown is the lead underwriter for the float, whose co-managers include SoundView Technology Group, CE Unterberg Towbin and Legg Mason Wood Walker Inc. Bluestone describes itself as a provider of software for Enterprise Interaction Management; its flagship product, the Sapphire/Web Java application server framework, is now in release 6.
