Allot Communications, a developer of service optimization products for broadband service providers and enterprises, filed with the SEC on Tuesday to raise $65 million in a US IPO. The Israel-based company plans to issue 6.5 million shares at a range of $9-$11 a share. For the nine months ended September 30, 2006, Allot's generated $24.6 million in revenue, up 55% over the prior year period, and it booked an operating profit of $0.4 million versus a year ago loss. Lehman Brothers, Deutsche Bank, CIBC World Markets and RBC Capital Markets are the underwriters on the deal. The offering is scheduled to be priced during the week of November 13th.
Allot Communications hopes to take advantage of a healthy market environment for networking IPOs, following very strong performances of similar networking firms Riverbed Technology (RVBD) and Acme Packet (APKT), which are up 149% and 71% from their respective offer prices.
