Aerohive Networks, a networking vendor that’s bullish on the convergence of enterprise wired and wireless LANs, aims to raise US$75 million through an initial public offering. The Silicon Valley company’s access points, routers, switches and gateways are managed via cloud-based software that can oversee wired and wireless infrastructure as a single network. But Aerohive, founded in 2006, is focused primarily on Wi-Fi and riding the growth of mobile computing across enterprises.
Aerohive, a company that sells Wi-Fi products to enterprise customers, has today filed to go public. The company’s proposed $75 million public offering is not unexpected. It spoke directly about a future flotation when it raised its Series E round of capital ($22.5 million) in 2012. Aerohive went back to the well a final time, picking up $10 million as a Series F in mid-2013. The initial public offering has not been priced, nor have the number of shares to be sold been disclosed. Aerohive reiterated this in a short statement. It will trade with the ticker symbol HIVE on the New York Stock Exchange.