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Investing

Aruba Networks IPO Set For Trading Today

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Aruba Networks (ARUN-NASDAQ) has priced its IPO for trading today.  The company priced 8 million shares at $11.00, above its $8.00 to $10.00 range.  Aruba is in the equipment for the wireless local area networking sector and has an impressive customer base: 2,200 customers including Google, SAP and others.

Goldman Sachs and Lehman Brothers served as underwriters of the IPO.  This one is expected to be well received by Wall Street as some are expecting the company to approach profitability on or around late 2007.  That is subjective to ‘speculation" more than it is any preliminary formal guidance from its roadshow.

The company does compete against Cisco Systems (CSCO) and has said that it has not always hit its internal forecasts in its risks section of the prospectus.  Its marketplace was only $1.5 Billion in 2006, but the industry feels this will more than double in the next three to four years.

Jon C. Ogg
March 27, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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