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Monday, Oct 7
Telecom software vendor Mavenir files for $86.25M IPO
- Mavenir, a developer of software that helps carriers provide VoIP and other advanced communications services (e.g. group text messaging, video calling), has filed for an IPO under the symbol MVNR. Morgan Stanley, BofA/Merrill, and Deutsche Bank are underwriting. (S-1)
- The company had 1H revenue of $48.2M (+21% Y/Y), and a net loss of $7.9M for the period. Just four carriers - AT&T, Vodafone, T-Mobile USA, and Deutsche Telekom - accounted for 55% of 1H revenue.
- Competitors include telecom equipment giants such as Alcatel-Lucent, Nokia, Ericsson, and Huawei (some of whom are also seeing rapid software growth), and VoIP infrastructure providers such as Oracle (courtesy of its Acme Packet unit), BroadSoft, and Sonus.