US IPOs in Third Quarter of 2006 Hit Three-Year Low

As this report from Reuters demonstrates, the US IPO market in the third quarter of this year was grim.

We’ve seen encouraging activity at the beginning of the fourth quarter, however, with some technology IPOs actually moving ahead.

Session-border controller market leader Acme Packets, for instance, had a relatively successful IPO on October 12, offering 11.47 million shares at $9.50 each — above the proposed price of $8.00 to $9.00 per share. Acme Packets’ shares are trading today at $15.44, a sharp gain on its debut.

Meanwhile, Veraz Networks has filed to go public under the symbol "VRAZ" with an $115-million offering. The exact price and date haven’t been set, but the vendor of softswitches and media gateways for packet-based telephony seems confident about moving ahead in the current climate.

Interesting, both of the aforementioned companies sell IP-based network infrastructure to carriers and service providers looking to offer VoIP and related services. They are not Web 2.0 plays.

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