ChannelLife NZ - Ruckus Wireless files $100m IPO

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Ruckus Wireless files $100m IPO

Ruckus Wireless has filed to raise US$100m in a U.S. initial public offering, as the company follows up plans to go public this year.

The wireless-networking provider made the filing late last week, hiring Goldman Sachs Group and Morgan Stanley to mange the deal.

Ruckus says the $100m is a placeholder used to calculate fees meaning it could change, while refusing to specify the amount of shares or price range for the IPO in the filing.

The company posted revenue of $93.9m for the six months ending June 30, nearly double last year's figure for the same period.

Forbes reported investors in the company includes Sequoia Capital with 26.8%, Google unit Motorola Mobility with 6% while CEO Selina Lo occupies a 9.2%.

In early July this year the company announced the extension of its channel reach by appointing Exeed as a New Zealand distributor, in addition to their long standing distribution arrangement with Connector Systems.

At the time of the deal ANZ country manager for Ruckus Carl Jefferys said:

“Exeed has proven, strong relationships with resellers working within the markets that are growing strongly for us across the world.

"We are confident that our partnership with exeed will grow Ruckus’ New Zealand business in the hospitality, health and logistics markets.”

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