US-based network computing company InfoBlox filed for an initial public offering (IPO) that could raise up to $125m, on Friday, with the precise number of shares to be offered and the pricing still to be confirmed.
Shareholders in InfoBlox include Duchossois Technology Partners, an investment subsidiary of the diversified Duchossis group of companies, which currently holds 7.8% of the shares.
The largest institutional shareholder in InfoBlox is venture capital (VC) firm Sequoia Capital, which holds 28.9%, while additional investors include Tenaya Capital, formerly the VC arm of investment bank Lehman Brothers, as well as VC firms Trinity Ventures and Open Prairie Ventures, and private equity firm Chess Ventures.
Founded in 1999 and now operating put of 15 offices across the world, Infoblox develops a range of hardware and software for computer networking that reduces cost while increasing availability, and claims the world’s 12 largest banks among its customers.
According to SEC filings, InfoBlox has raised a total of $58.3m with the last equity received consisting of a $30m round in 2005. The IPO registration shows revenues have increased recently, peaking at $132.8m in the year leading up to July 2011, albeit with a $5.3m loss.
InfoBlox stated in the filing that it has no specific plans for the proceeds raised from the IPO, its last significant investment being the acquisition of network management software developer Netcordia in August 2010 for an undisclosed sum.