[London, ENGLAND] IP network management solutions
provider RiverSoft plc announced Friday a placing
of 88.3 million shares to raise nearly US $120 million.
The placement, conditional on the company’s proposed
London Stock Exchange listing, values its share capital
at around US $322 million — making it one of the
largest Internet-related businesses in the U.K.
Philip Tee, RiverSoft’s chairman, said the company
was tremendously pleased with the strong interest
being shown despite what he called “the current
challenging market conditions.”
“The placing is a significant milestone that will
enable us to achieve our growth potential. We look
forward to our future as a listed company and to
continue enhancing shareholder value by executing
our strategy of providing customers with advanced
IP network solutions,” said Tee.
RiverSoft uses a proprietry Network Management
Operating System (NMOS), which automatically discovers
the configuration and connectivity of an IP network and
continually monitors it for state and changes. The
company’s flagship product is OpenRiver, which
combines NMOS with a fault isolation application.
Among RiverSoft’s customers and partners are Deutsche
Bank, Hewlett-Packard, Intel Corporation, Level (3)
Communications and Siemens NSL.
RiverSoft expects to see its shares traded on
techMARK, the London Stock Exchange market for
technology companies, beginning December 13. The
ticker symbol will be RSFT.