Rosetta Stone to Raise $106.3M in Rare IPO

Authored by Mark Hefflinger on April 2, 2009 - 8:42am.

Arlington, Va. - Rosetta Stone, a developer of language learning software and online services, said that it plans to raised as much as $106.3 million later this month in an IPO.

The company plans to sell 6.25 million shares -- including half from current stockholders -- for between $15-$17 a share, listing its stock under the symbol "RST" on the New York Stock Exchange.

Arlington, Va.-based Rosetta Stone, which was acquired in a 2006 management buyout led by ABS Capital Partners, currently offers its self-study language learning tools in 31 languages.

The company, which has around 1,200 employees and reported 2008 net income of $13.9 million on revenue of $209 million, said that its plans include extending its offerings through new Web-based services, as well as expanding them to handheld devices.

There have been no venture-backed IPOs in the U.S. since October.

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