Ruckus Wireless, a manufacturer of higher-end computer products for wireless Internet networking, has an initial public offering (IPO) in its sights.
However, the company wants to wait and is currently pursuing the carrier space well before it announces an IPO, according to Tammy Parker from fiercebroadbandwireless.com.
Parker notes that David Callisch, Ruckus' vice president of corporate marketing put the IPO rumours to rest by announcing that although the company wants to go public, it has never set a specific deadline for an offering.
Ruckus has raised US$72.7 million since June 2004 and recently raised US $21.7 million in a mezzanine round of funding.
It intends to use these funds for its carrier infrastructure business and building its enterprise wireless LAN business.
"We're positioning ourselves as a carrier infrastructure play. So, if we went public a couple of years ago or last year, we would have been positioned as a wireless LAN company like Aruba or Meru. And we don't want to do that," Callisch said.
Positioning for successful IPO
Ruckus is doing several activities to position itself for a successful IPO down the line.
Its latest round of funding was led by new investors Meritech Capital Partners and SingTel Innov8 and was joined by previous investors.
The company is also expanding its board members and added Dick Lynch and Georges Antoun to its team.
Lynch is the former executive vice president for strategic technology initiatives at Verizon Communications, and Antoun most recently served as head of product area IP & broadband networks for Ericsson.
Ruckus is profitable and has made money for the past six quarters. It reported earnings of US$120 million in its most recent fiscal year.
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