Video processing vendor Envivio becomes profitable, restarts filing activity

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Envivio, which enables network providers to deliver high-quality video across multiple devices, restarted its filing activity last week after postponing a $66 million US IPO in June 2011. The South San Francisco, CA-based company saw sales increase 69% to $51 million for the 12 months ended 1/31/2012 and posted a net profit of $138,000, after years of mounting losses (-$2 million in FY11).

Customers, which include 9 of the top 10 global broadband providers, increased from approximately 220 in April 2011 to over 300 as of January 31, 2012. Financial backers include a variety of venture capital (Crescendo Ventures, Credit Agricole, Saints Capital and Atlantic Bridge Ventures) and private equity firms (HarbourVest Partners), none of which were planning to sell in the June offering.

Envivio plans to list on the NASDAQ under the symbol ENVI. No underwriters were listed on the latest filing, but Stifel Nicolaus Weisel and Piper Jaffray were the previous bookrunners.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , IPOs

Referenced Stocks: ENVI

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