(Corrects description of Sequoia Capital to venture capital
firm in para 2)
Nov 15 WiFi products maker Ruckus Wireless Inc
priced its initial public offering at $15 per share, the high
end of its expected price range, a market source told Reuters.
The company, which is backed by Google Inc's
Motorola Mobility LLC and venture capital firm Sequoia Capital,
raised $126 million by selling 8.4 million shares.
Ruckus offered 7 million shares while selling shareholders,
including Telus Corp, offered 1.4 million shares.
The Sunnyvale, California-based company, which makes
wireless LAN products for both indoor and outdoor use, competes
with Meru Networks Inc and Aruba Networks Inc.
The company's customers include Time Warner Cable Inc
, Towerstream Corp, Tikona Digital Networks and
Bright House Networks.
Goldman Sachs & Co and Morgan Stanley are the lead
underwriters to the offering.
The company's shares are expected to begin trading on the
New York Stock Exchange on Friday under the ticker symbol
(Reporting by Sharanya Hrishikesh and Ashutosh Pandey in
Bangalore; Editing by Sriraj Kalluvila)