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Avici Files For An IPO

Light Reading
News Analysis
Light Reading
5/19/2000

Avici Systems Inc. http://www.avici.com yesterday made an S1 filing to the Securities and Exchange Commission, indicating that it plans to stage an IPO. The filing indicates that the startup has only sold its Terabit Switch Router (TSR) to one paying customer as of the end of March, although a number of other potential customers are testing it.

The S1 filing says: ”All of our recognized revenues through March 31, 2000 were attributable to shipments of our TSR to one customer and amounted to $504,000. We have also shipped the TSR to international systems integrators, including Nissho Electronics Corporation, Itochu and Samsung, and to several other customers for laboratory tests and field trials.”

Elsewhere in the filing, it says: ” The TSR is currently deployed in a segment of The National Transparent Optical Network, an Internet initiative known as SuperNet. In addition, Enron Broadband Services and Williams Communications have agreed to future minimum purchases of the TSR totaling $45 million through 2001, subject to successful completion of field trials. While there has been no commitment to purchase equipment for deployment, the TSR has successfully completed laboratory testing at AT&T and has been selected by AT&T for field trials. We have also shipped the TSR to a limited number of other customers and prospective customers.”

A source in an organization that has agreed to buy the TSR, subject to successful trials, has told Light Reading that it faces challenges testing Avici’s gear. It’s so heavy that it can’t be transported in elevators, and can’t be placed on the suspended floor in its lab (see Avici Battles Weight Problem ). The TSR’s high power consumption also presents problems, adds the source, who requested anonymity.

By Peter Heywood, international editor, Light Reading, http://www.lightreading.com

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