Friday, October 5, 2012

Ruckus Wireless Files For IPO

Sunnyvale-based Ruckus Wireless, which develops outdoor and indoor Wi-Fi network systems aimed at wireless carriers, filed for an IPO Friday, saying that it is looking to raise up to $100M in the offering. The firm said it hopes to list as RKUS, but has not yet set an exchange. The IPO is being underwritten by Goldman, Sachs & Co., Morgan Stanley, Deutsche Bank Securities, Needham & Company, Oppenheimer & Co., ThinkEquity LLC, and William Blair. Ruckus is venture backed by Motorola Mobility, Sequoia Capital, Meritech Capital Partners, SingTel Innov8, along with others. Sequoia has the largest institutional ownership of Ruckus, with 26.8% of the firm before the IPO.