Motorola and Deutsche Telekom-backed WiFi products manufacturer Ruckus Wireless has filed with the Securities and Exchange Commission [SEC] for its initial public offering in which it is looking to raise $100m.
The US-based firm intends to list its stock under the ticker symbol “RKUS”. It has not yet disclosed the stock exchange it plans to list on, nor has it announced the number of shares it plans to sell or the expected price range.
Goldman Sachs, Morgan Stanley, and Deutsche Bank are the lead underwriters to the offering according to the SEC filing. The Calif.-based firm recorded $6.1m in profit from $94m in revenue for the first six months of 2012.
Since 2005, the firm has raised $54.2m in total venture funding. That year, Ruckus raised $9m in a series B round in which Sequoia Capital, Sutter Hill Ventures, Investor Growth Capital, and WK Technology Fund all participated. In a venture round the following year, Motorola’s venture unit participated with Deutsche Telekom’s T-Venture in raising $16m for the firm. In 2007, Firelake Capital Management joined all existing backers in a series E round worth $7.5m.
In February this year, the firm held another venture round worth $21.7m. Meritech Capital Partners and Singapore Telecommunication’s venture unit SingTel Innov8 participated.