Ruckus Wireless (News - Alert) is about to make a bit of a ruckus. The company has reportedly filed papers to raise up to $100 million in an initial public offering (IPO).
Ruckus Wireless is a Wi-Fi technology company focused on building what it calls “the next generation of Smart Wireless LAN systems.” The company manufactures and markets “smart Wi-Fi” products directly to broadband services providers and Smart WLAN systems indirectly to enterprise customers.
Named a Technology Pioneer by the World Economic Forum, Ruckus Wireless is credited with developing the first Smart Wi-Fi products and technology that extend the range of Wi-Fi signals and automatically adapt to environmental changes.
Ruckus offers a suite of Wi-Fi Certified high-performance 802.11n indoor and outdoor access points that are marketed under the ZoneFlex product name. Their WLAN controllers are marketed under the ZoneDirector product line and can support up to 1,000 access points on a single appliance. FlexMaster is a software manager of networks that allows for a user to control multiple WLAN sites from a single location.
Now it wants to be publicly owned, though we’re not yet sure what stock exchange it will be listed on.
Goldman Sachs, Morgan Stanley and Deutsche Bank Securities are the lead underwriters to the offering, the company said in a filing with the US Securities and Exchange Commission.
Net proceeds from the initial public offering are expected to be used for working capital expense and other general corporate purposes, the company said.
Ruckus Wireless, which is backed by private equity firm Sequoia Capital (News - Alert), recorded a net profit of $6.1 million on revenue of $94 million for the six months ended June 30.
Edited by Brooke Neuman