Is Metaswitch Prepping Its IPO?
10:50 AM -- If I was a betting man, I'd put money on Metaswitch Networks becoming a public company within the next year.
Why? Well, the privately held VoIP and Service Provider Information Technology (SPIT) technology vendor's chairman, John Lazar, stated during an interview with Light Reading last year that a public listing was on the company's roadmap. And since that interview the vendor has been expanding its portfolio and positioning itself into some key growth network technology and applications markets. But that's not all. (See Metaswitch Eyes an IPO.)
The company today announced the appointment of a new CFO, Thomas L. Cronan III, who has experience as the lead finance officer of several public companies -- vital for any company planning an IPO. (See Metaswitch Appoints a New CFO.)
That experience includes a recent stint as the CFO at wireless backhaul vendor Aviat -- his departure from that company was announced late Wednesday -- and four years as the CFO at Redback Networks, where he served with Metaswitch's current CEO Kevin DeNuccio. (See Aviat's CFO Quits.)
So Cronan is a trusted lieutenant who would be able to help DeNuccio build the company, which has offices in London, San Francisco, Reston Va., Richardson Tx., and Singapore, into the much larger player that the chairman and CEO would like Metaswitch to be.
Metaswitch avoided the question when it responded by email to Light Reading's questions about its IPO plans. "Metaswitch continues to build a critical mass of executive leadership in San Francisco, our second home. In the past year, CEO Kevin DeNuccio has added Simon Williams, leading the product team, Steve Gleave, head of marketing, has moved back to California [from Washington DC] and now Tom Cronan has joined to head the financial side of the business."
OK -- watch out for that S-1!
For more on Metaswitch's recent developments, see the following news items:
- Metaswitch Unveils RCS-e Messaging Server
- The Service Broker Shows Great Potential
- Metaswitch Makes Its LTE Apps Move
- Metaswitch Intros SIP Session Router
- MWC 2011: Metaswitch Goes Upwardly Mobile
- Metaswitch CEO: VoIP + Mobility = $$
- Metaswitch Reports Annual Growth
- Metaswitch Taps Nuance for Speech-to-Text
- Metaswitch Enhances Its Service Broker