updated 3/24/2011 6:17:16 PM ET 2011-03-24T22:17:16

SAN FRANCISCO, March 24, 2011 (GLOBE NEWSWIRE) -- ServiceSource®, a global leader in service revenue management solutions, today announced the initial public offering of 11,940,133 shares of common stock at a price to the public of $10 per share. The shares will begin trading on The NASDAQ Global Market on March 25, 2011 under the ticker symbol "SREV." Of the shares being offered, ServiceSource is offering 8,000,000 shares and certain selling stockholders are offering 3,940,133 shares. In addition, ServiceSource has granted the underwriters a 30-day option to purchase up to an additional 1,791,020 shares of common stock at the initial public offering price to cover over-allotments, if any. ServiceSource will not receive any proceeds from the sale of shares by the selling stockholders.

Morgan Stanley & Co. Incorporated and Deutsche Bank Securities Inc. are acting as the joint book-running managers for the offering. William Blair & Company, L.L.C., Lazard Capital Markets LLC, Piper Jaffray & Co. and JMP Securities LLC are acting as co-managers. 

This offering is being made solely by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. Incorporated, by telephone: (866) 718-1649; by standard mail at Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014; or by email: prospectus@morganstanley.com ; and from Deutsche Bank Securities Inc., by mail at Deutsche Bank Securities Inc., 100 Plaza One, Attention: Prospectus Department, Jersey City, NJ 07311; or by telephone: (800) 503-4611.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The ServiceSource logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8933

CONTACT: Investor Relations Contact for ServiceSource:
         The Blueshirt Group
         Todd Friedman or Stacie Bosinoff
         Media Contact for ServiceSource:
         Will Stickney
         Horn Group for ServiceSource
         (415) 905-4025

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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