Infoblox Seeks to Raise $125 Million in Initial Public Offering

January 06, 2012, 10:57 PM EST By Lee Spears

Jan. 6 (Bloomberg) -- Infoblox Inc., a network and data- services provider, plans to raise as much as $125 million in an initial public offering.

The Santa Clara, California-based company hired Morgan Stanley and Goldman Sachs Group Inc. to manage the IPO, according to a regulatory filing today. Infoblox didn’t specify the number or price of shares it will offer in the filing. The size is a placeholder amount used to estimate registration fees and may change.

Internet companies including Facebook Inc. may raise $11 billion this year, data compiled by Bloomberg show. Last year, 19 Internet companies generated $6.6 billion in U.S. initial share sales.

Proceeds of the offering will go to working capital and general corporate purposes, and possibly acquisitions, Infoblox said in its filing. Revenue increased 35 percent to $39.4 million in the three months through October. The net loss was $1.8 million, compared with net income of $206,000 in the year- earlier period, the regulatory filing showed.

Infoblox’s services allow companies to automate certain processes on their computer networks. It counts Barclays Plc, Wells Fargo & Co., Boeing Co., International Business Machines Corp. and the Federal Aviation Administration among its customers, according to the filing.

Venture-capital firm Sequoia Capital owns 29 percent of Infoblox, the filing shows. The shares will list on the New York Stock Exchange under the symbol BLOX.

--Editors: Elizabeth Wollman, John Lear

To contact the reporter on this story: Lee Spears in New York at lspears3@bloomberg.net

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net -0- Jan/06/2012 22:27 GMT

View the original article here