Infoblox Busts Big IPO Move
SANTA CLARA, Calif. (TheStreet) -- Shares of Infoblox (BLOX) climbed rapidly on the company's debut as a public company on Friday, just a day after big data specialist Splunk (SPLK) enjoyed a massive IPO pop.
Network automation specialist Infoblox priced its shares at $16 a share on Thursday. The company's stock was up $5.55, or 34.69%, to $21.55 in afternoon trading as investor appetite for tech IPOs continued. Trading on the New York Stock Exchange, Infoblox opened at $22.50.
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A rival of BMC (BMC) and Alcatel-Lucent (ALU), Infoblox touts the ability to help companies manage their rapidly expanding and increasingly complex network infrastructures. The Santa Clara, Calif.-based firm lists semiconductor specialist Marvell (MRVL), IBM (IBM), Best Buy (BBY) and TiVo (TIVO) as customers
Infoblox brought in revenue of $132.8 in 2011, up from $61.7 million in 2009. The company's net loss also narrowed over the same period, from $10.4 million in 2009 to $5.3 million in 2011.
Another tech company, security software maker Proofpoint (PFPT) began trading on the Nasdaq on Friday, with shares climbing $1.01 cents, or 7.77%, to $14.01. The Microsoft (MSFT) and VMware (VMW) partner priced its offering at $13 a share. Splunk shares slipped 0.08% to $35.45 on Friday after closing up 108.71% on Thursday, when the company made its Nasdaq debut. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.Select the service that is right for you!
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