Sylantro Seeks CEO
Bonee, who would remain chairman of the IP Centrex company, tells Light Reading he wants to find someone appropriate to move the seven-year-old firm out of its high-growth phase. Sylantro has 140 employees.
Bonee says he's hoping to find "somebody with a track record, who has run companies from this size to significantly larger, and who has experience running public companies. I'm not announcing anything here, but I would expect in the future, we would become a public company."
Sylantro executives have spoken about IPO plans before, although it would appear their previous target of late-2005/early-2006 has been pushed back. Even before admitting to IPO plans, Sylantro was considered by Heavy Reading analysts as a probable IPO candidate, partly on the strength of the VOIP market it taps. (See Sylantro Ready to Garnish Public Markets and Heavy Reading: Startups on the Rebound.)
When it came to the most recent version of Light Reading's Top Ten Private Companies, however, competitor Broadsoft Inc. made the cut, judged by some to be closer to an IPO.
Sylantro separately plans to announce a new vice president of marketing this week. Ronald Raffensperger has signed on, taking the place of David Illing, who, Sylantro officials say, has "moved on." Raffensperger most recently worked at Network Focus Inc., a telecom reseller for (NYSE: SI; Frankfurt: SIE).
— Craig Matsumoto, Senior Editor, Light Reading