Silicon Valley startups favour IPOs over deals as M&A languishes

REUTERS/Dado Ruvic

When it comes to choosing an exit, some closely held technology companies are betting they can get richer valuations from a public listing than from being acquired.

Okta Inc. is one of at least five sale targets worth $1 billion or more — public or private — to have held deal talks in recent months that have fallen apart, people with knowledge of the matter said. The enterprise-software company based in San Francisco is now marketing its initial public offering to investors.

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