Open RAN vendor Mavenir filed for an initial public offering (IPO) in the US, reportedly seeking to raise up to $100 million, with the listing coming a week after it struck a deal to acquire small cell player ip.access.
IPO research company Renaissance Capital reported the estimated sum after Mavenir confirmed the application to be listed on the Nasdaq Stock Exchange. Neither the number of shares on offer nor price range were disclosed by the vendor.
Mavenir, which provides open RAN kit to operators running both 4G and 5G networks, reported revenue of $462 million for the year ending 31 July 2020.
The move to list comes hot on the heels of its deal to acquire ip.access last week, for an undisclosed sum, which it claimed would boost its operator offering in the private enterprise network segment.
The company has made strides in recent years to shake up the traditional network vendor market with open RAN solutions, which it, like its rivals, claim offers operators cost savings, greater supplier choice and flexibility in network deployment.
Morgan Stanley, Goldman Sachs, J P Morgan, BofA Securities, Barclays, Guggenheim Securities and Macquarie Capital are jointly assisting Mavenir with the IPO. Mobile World Live