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Telecom Equipment - Thursday, December 27, 2007

Metro Ethernet's ANDA Files IPO

anda networks.png
Ethernet access equipment's ANDA Networks has filed Nasdaq IPO plans to raise $86.25M.

ANDA may be stung by concerns that its sales are too dependent on a couple of key customers. In the nine months to September 30, 2007, Verizon, XO Communications, and MTS Allstream generated 87% of ANDA's revenues, which totaled $19.4M. Verizon accounting for a 71%.

Sunnyvale, CA-based ANDA has raised approximately $100M from Wu-Fu Chen, Venrock Associates, InveStar Capital, Highland Capital Partners, ADC Telecom, Crimson Ventures, Saints Venture, Amerindo Investment Advisors and Franklin Templeton. Most recently in June 2006, ANDA Networks closed an additional $10.5M round.

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