Monday, October 7, 2013

Mavenir Files For IPO

Richardson-based Mavenir Systems has filed for an IPO, saying that it is looking to raise up to $86.25M in an offering on the New York Stock Exchange. According to Mavenir, it has applied to list as MVNR. The company's IPO is being underwritten by Morgan Stanley, BofA Merrill Lynch, Deutsche Bank Securities, and Needham & Company. Mavenir develops software which is widely used for enabling advanced telecommunications services, such as voice-over-LTE and voice-over-WiFi, along with other video, communications, and voice functions. Mavenir is venture backed by North Bridge Venture Partners, Austin Ventures, Alloy Ventures, August Ventures, and Cisco Systems, among others.