News & Updates - Friday, November 30, 2007
Telecom's Broadview To Try Again At IPO
Rye Brook, NY's Broadview Networks has filed for a $287.5M IPO. Deutsche Bank Securities and Jefferies & Co. will be co-lead underwriters. Broadview has raised nearly $300M in VC funding. Shareholders are Baker Capital, MCG Capital, NEA, ComVentures and Lightspeed.
Founded in 1997, Broadview sells voice and data networking solutions to small and medium-sized businesses. It had initially filed for an IPO in February 2000, but withdrew the filing in September 2000.
Broadview reported an adjusted loss of $27.2M on revenue of $374M in the nine months ended September 30. It claims around 70K business customers in the northeast and mid-Atlantic regions. In May, Broadview acquired Manhattan-based InfoHighway, which is a distributor of voice and data services.
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