SilkRoad hires banks for IPO

Human resources software company SilkRoad has selected JPMorgan Chase & Co. and Piper Jaffray Cos. to lead an initial public offering later this year, according to two sources with knowledge of the matter.

The Chicago-based company is hoping to piggy-back on the IPO of peer Workday Inc., which raised $637 million in October. Shares of Workday, which priced its offering at $28 per share, have nearly doubled since then to close Friday at $55.25.