Cavium Networks files $86.25M IPO

By siliconindia   |   Thursday, 15 February 2007, 06:00 Hrs
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Cavium Networks, a chip making company led by Indian President and CEO, Syed Ali, announced their plan of an initial public offering of as much as $86.25 million in common stock. Mountain View-based Cavium makes intelligent processing products for enterprise network, data center, broadband and consumer, and access and service provider markets. The shares will be listed on Nasdaq under the ticker symbol CAVM. Morgan Stanley, Lehman Brothers, Thomas Weisel Partners LLC, Needham & Company LLC and JMP Securities LLC will underwrite the IPO, according to Cavium's Tuesday filing with the SEC. Cavium Networks has received $62 million in funding from firms that include Menlo Park-based Menlo Ventures and Diamondhead Ventures, Santa Clara-based Alliance Ventures, and Neocarta Ventures, which has an office in San Francisco.

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