Monday, November 1, 2010
Centennial, Meritage To Benefit From Masergy IPO
Two, Denver-area investors have had one of their portfolio firms file for an IPO today. Centennial Ventures and Meritage Funds together own most of Plano, Texas-based Masergy, which said this morning it has filed for a $100M IPO on the NYSE. Masergy, a provider of secure, managed virtualized network services, reported net income of almost $22.3M on revenues of $97.5M for its year ended June 30, 2010. The firm's IPO is being underwritten by BofA Merrill Lynch, Deutsche Bank Securities, Stifel Nicolaus Weisel, and Pacific Crest Securities. Local firm Centennial Ventures owns 38 percent of Masergy, and Meritage Funds owns 42 percent.