Wednesday, June 6, 2007

Infinera Soars in IPO, Raises $182 Million

Shares in Infinera (NASDAQ: INFN) rose 51% on their first day of trading to close at $19.70. The company had offered 14 million shares at an initial price of $13, raising $182 million for the company.

Infinera offers a unique optical transport system. Unlike conventional optical systems, which use analog optical devices for key networking functions, the Infinera DTN uses digital technology. Its photonic integrated circuits convert all traffic from optical to electronic signals, allowing the DTN to add and drop, multiplex, groom, and protect circuits digitally rather than optically.

Infinera developed a photonic integrated circuit (PIC) that incorporates 100 Gbps of transmit and receive capacity and the functionality of more than 60 discrete optical components into a pair of indium phosphide chips..

Announced deployments include Level 3 Communications, XO Communications, Internet2, ESNet, FLAG Telecom, Global Crossing, CityNet, BOREAS-NET, Telekenex, and the State of New Mexico General Services Department.

  • Infinera is headed by Mr. Jagdeep Singh (President and CEO, Founder), who previously was General Manager of CIENA's Core Switching Division. Previously, Singh headed Lightera Networks, another optical start-up that was acquired by CIENA.

  • In February, Reed Hundt, who served as chairman of the Federal Communications Commission from 1993 to 1997, has joined the Infinera board of directors.

See also