Topic: Masergy Communications (MSGY)
Masergy Communications announces IPO terms
Masergy Communications, which provides secure managed network services to enterprises, announced terms for its IPO on Thursday. The Plano, TX-based company plans to raise $100 million by offering 7.7 million shares at a price range of $12 to $14. At the mid-point of the proposed range, Masergy Communications will command a market value of $245 million. Masergy Communications, which was founded in 2000 and booked $99 million in sales for the 12 months ended September 30, 2010, plans to list on the NYSE under the symbol MSGY. BofA Merrill Lynch and Deutsche Bank Securities are the lead underwriters on the deal, which is expected to price during the week of February 14.