Seven Networks Looks for IPO.Mobile information software provider Seven Networks has filed for an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. worth around $115m. The Redwood City Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , California-based company did not say how many shares it planned to sell, or what the price range would be. Proceeds of the offering will be used for working capital and general corporate purposes. While some proceeds could be used for technology or business acquisitions, Seven said there were no such plans in place right now. Seven Network's System SEVEN software is designed to help network operators offer real time information services See Information Systems. to wireless devices, including access to email and calendars, and corporate documents and directories. Seven's customer list includes Globe Telecom, KDDI Corp, NTT DoCoMo (NTT Mobile Communications Network, Inc., Japan) Founded in 1991, NTT DoCoMo is a spinoff of Japan's NTT (Nippon Telegraph and Telephone Corporation) which provides wireless services, including cellular, paging, satellite and maritime and in-flight telephone services. , Optus and Singtel in Asia Pacific; and mmO2 and Orange in Europe. Seven had revenue of $6.9m in 2003, and a net loss of $12.9m |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion