Tewksbury, Mass. - Starent Networks, a provider of technology that lets mobile operators offer multimedia services to subscribers, has set the terms of its upcoming initial public offering (IPO), in which it expects to raise $81.9 million selling 10.5 million shares at between $9 and $11 per share.

Founded in 2000, Massachusetts-based Starent's mobile multimedia technology is used by mobile networks including Verizon Wireless, U.S. Cellular, Virgin Mobile, China Unicom, KDDI and SK Telecom.

The company has raised a total of $95 million in financing, and reported net income of $3.6 million on revenues of $94.4 million in 2006.

Starent will use the proceeds from the offering for working capital and general corporate purposes, including product development, sales, marketing and acquisitions.

Related Links:
http://www.starentnetworks.com