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27 Feb 2007
Company plans to use IPO proceeds for mix of working capital, debt servicing and to acquire other businesses.
Infinera, which integrates optical and electronic functions in its proprietary InP-based photonic ICs, intends to raise $150 million through an IPO filed with the US Securities & Exchange Commission on February 26.
Since its founding in 2000 the company has raised $330 million in VC funding.
Infinera, which believes that its digital integrated approach to optical communications will have the edge over all-optical analogue DWDM type systems, said it would use IPO proceeds for working capital, debt servicing and to acquire other businesses.
Earlier in February, Infinera acquired planar lightwave specialist Little Optics.
The 600-strong company has only recently started to make money. Sales reached almost $59 million in 2006 (a big increase on the $4.1 million in 2005). However income was dwarfed by Infinera’s losses which totalled $89 million in 2006, and $215 million during the four previous years.
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