Starent Networks Corp. (STAR-NASDAQ) priced its awaited 10.5 million share IPO at $12.00 per share, above the original $9.00 to $11.00 range. Underwriters are isted as Goldman Sachs, Lehman Brothers, Thomas Weisel, and J.P.Morgan. 9 million shares are being sold by the company, and 1.5 million shares are being sold by the company. So the company will receive $108 million before fees.
Starent is a provider of hardware and software enabling mobile-service operators to delivery multimedia services to subscribers. It works with video downloads or streaming, Internet access, voice-over-IP, e-mail, mobile TV, video and photo sharing, gaming, and others. On its site it lists Cantv, SK Telecom, US Cellular, Verizon, Virgin Mobile, Vivo, Zapp, China Unicom, and KDDI as its key customers.
The company had revenues of $94 million and net income was almost $4 million in 2006. More information can be found at its website at starentnetworks.com. Jon C. Ogg
June 6, 2007
Jon Ogg can be reached at firstname.lastname@example.org; he does not own securities in the companies he covers.