Tuesday, January 2, 2007

Omneon Files For IPO

Sunnyvale-based Omneon Video Networks said last week in a filing with the SEC that it is looking to raise up to $115M in an IPO on the Nasdaq. Omneon, provides digital content storage and processing systems for media companies, used for the broadcast video market. The firm said that it earned $6.3M on $60.27M in revenues for the nine months ended September 30, 2006. The IPO is being underwritten by JP Morgan, Deutsche Bank Securities, Canaccord Adams, Needham & Company, and JMP Securities. Omneon Video is backed by Norwest Venture Partners, Accel Venture Partners, Advanced Technology Ventures, INVESCO Private Capital, Meritech Capital Partners, and Lucent Venture Partners.