Monday, May 21, 2007

Starent Networks Sets IPO Share Price Range - Tewksbury, MA

Starent Networks, a Tewksbury-based provider of hardware and software products used by mobile communication operators, has filed with the Securities and Exchange Commission, indicating that it plans to price its upcoming initial public offering of 9 million common shares at between $9 and $11 per share. That would equal $99 million total at the top end of the range. Founded in August 2000, Starent's products have been deployed by over 60 mobile operators in 25 countries. The company had revenue of $94 million and a profit of about $3.6 million in 2006. Some investors in the company include Matrix Partners, North Bridge Venture Partners and Highland Capital Partners.


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