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IPO - Tuesday, July 10, 2007

IPO Recap: Monotype, Hireright, Pixel Media

We had posted on scheduled IPOs for Monotoype and Hireright but they provided pricing guidance today.

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Owner of Fonts.com, Monotype Imaging Holdings registered to sell 11M shares at an estimated price of $13 - $15 per share. The company sells products to display and print high quality digital text. Based in Woburn, MA, Monotype applied for a Nasdaq listing under the symbol "TYPE."

For the nine months ended September 30, Montotype posted net income of $3.8M on revenue of $60.8M versus net income of $5.8M on revenue of $54.6M in the prior year. TA Associates owns 81.2% of Monotype having bought a majority stake in Agfa Monotype for $194M.

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HireRight, which sells on-demand employment screening solutions, said it expects its IPO of about 4.4M shares to be priced between $15 - $17 per share. The net proceeds from its sale of about 3M shares are estimated to be about $42.5M based on an assumed initial public offering price of $16 per share,
The company sells on-demand employment screening. It counts about $40M in yearly sales.

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Hong Kong-based online advertising rep firm Pixel Interactive Media did an IPO on London’s AIM market where it raised $3.1M. The placing values the company at around $21M. The company represents sites such as MSN Hong Kong, Friendster, Xanga and others in the Asian market. Pixel is led by CEO Kevin Huang who led the management buyout of the DoubleClick Media Hong Kong business which became Pixel.

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