Monday, October 23, 2006

Veraz Networks Files For IPO

San Jose-based voice-over-IP software provider Veraz Networks has filed for an IPO, the firm said this morning. Veraz said in a regulatory filing that it is looking to raised up to $115M in an IPO on the Nasdaq as VRAZ. The IPO is being underwritten by Credit Suisse Securities, Lehman Brothers, Jeffries & Company, and Raymond James & Associates. Veraz is a provider of VoIP softswitches, media gateways, and other products for the voice-over-IP market. The firm reported in its IPO filing that had a loss of $9.6M on revenues of $19.5M for the six months ended June 30, 2006. Veraz is backed by ECI Telecom, Norwest Venture Partners, Battery Ventures, Argonaut Holdings, Liberty Mutual, and Levensohn Venture Partners.