BigBand Investor Jets Before IPOposted by MR WAVETHEORY at 2/02/2007 12:05:00 AM
US telecommunications networking equipment manufacturer ADC (Nasdaq: ADCT) has announced the sale of its holdings in the start-up BigBand Networks Inc., a producer of platforms for multimedia services, for $59 million. The announcement has drawn attention because of its timing, as BigBand prepares for its upcoming IPO on Nasdaq. The company hopes to raise $140 million.
ADC did not disclose the name of the buyer although sources inform ''Globes'' that it is apparently one of BigBand’s major shareholders, Redpoint Ventures.
A very bullish posting on the BigBand IPO. This is why the BigBand IPO is going to be exciting.
* The company has been building their business for long time, seven (7) years.
* They have a strong customer base of cable centric service providers
* They are a significant supplier to Verizon and the FiOS program
* They are profitable