Multimedia infrastructure company, Starent Networks, has raised $126.4 million in its initial public offering (IPO), more than the expected $115 million. The company offered some 10.5 million shares, which sold at $12 per share, making for an initial market capitalization of about $749 million. The IPO included 9 million company shares and 1.5 million from selling stockholders, according to Starent. IPO proceeds will be used to increase capital and allow Starent to consider additional company expenses, product expenses or technology acquisitions. Starent's clients include Verizon Wireless, U.S. Cellular, Virgin Mobile and China Unicom.
For more on Starent's IPO:
- read this article from RCR News