Wednesday, June 06, 2007

Starent Networks' IPO Shares Jump 15% - Tewksbury, MA

Shares in Tewksbury-based Starent Networks, a provider of infrastructure hardware and software products for mobile carriers, were up about 15% on Wednesday afternoon after the company priced its initial public offering at $12 per share. The offering of about 10.5 million shares -- of which 9 million were sold by the company itself and the rest by investors -- raised a total of about $126 million. Starent's technology allows mobile operators to deliver multimedia services to their subscribers. Shares in the company were trading up $1.80 from their IPO price at $13.80.


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