A 26-year-old software maker is set to hit the Nasdaq on Friday at an opening price of $14, becoming just the third technology company to go public in the last two months. Lawson Software, which makes applications that handle human resources, financials and supply chain management processes for companies, would be valued at $1.3bn based on the opening price. The $14 price falls in the middle of the range it set with the Securities and Exchange Commission. Minnesota-based Lawson specialises in the health care, financial services, professional services and retail industries. It competes against companies like SAP and PeopleSoft, but focuses on smaller customers. It was founded in 1975, and turned a profit of $1.09m, or one cent per share, on revenue of $100.9m, in the most recent quarter. Lawson is offering 13.7 million shares, with other shareholders putting 325,000 shares up for sale. Lehman Brothers and J.P. Morgan Chase, the deal's underwriters, have been given an option to purchase an additional 2.1 million shares to cover over-allotments. It is no secret that the number of technology IPOs has fallen sharply. Last year, according to Thomson Financial Securities, 240 of the 374 IPOs were from high-tech companies. This year, 22 of the 84 IPOs have been tech-related. Two tech companies that have gone public in recent months include chipmaker Magma Design Automation, which rose 46 percent on its initial day of trading last month, and video game designer Bam Entertainment, which rose 9 percent when it made its public debut. See techTrader for the latest financial news in the high-tech sector. Have your say instantly, and see what others have said. Click on the TalkBack button and go to the techTrader forum Let the editors know what you think in the Mailroom. And read other letters.