Ruckus Wireless, which provides carrier-class Wi-Fi systems to telecoms and enterprises, announced terms for its IPO on Monday. The Sunnyvale, CA-based company plans to raise $118 million by offering 8.4 million shares (17% insider) at a price range of $13 to $15. At the midpoint of the proposed range, Ruckus Wireless would command a fully diluted market value of $1.3 billion. Ruckus Wireless, which was founded in 2004 and booked $194 million in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol RKUS. Goldman Sachs, Morgan Stanley and Deutsche Bank are the joint bookrunners on the deal.
