A10 Networks, which is a leading provider of networking technologies that optimize data center performance, announced terms for its IPO on Monday. The San Jose, CA-based company plans to raise $175 million by offering 12.5 million shares (28% insider) at a price range of $13 to $15. At the midpoint of the proposed range, A10 Networks would command a fully diluted market value of $925 million.
A10 Networks, which was founded in 2004 and booked $142 million in sales for the 12 months ended December 31, 2013, plans to list on the NYSE under the symbol ATEN. A10 Networks initially filed confidentially on November 26, 2013. Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal.
