It is estimated that the Eyeblaster company is expected to collect money in the range of $115 million through the IPO or initial public offering. The application was made on Monday.
As of now, there is no information about the price range or price band in which the IPO will be offered. Though a figure of $115 million has been quoted, but the total offering price was estimated solely to calculate its registration fee and may change at a later stage. Lehman Brothers and Deutsche Bank have been appointed as the Book running lead managers for the IPO book building process.
The primary purpose of the IPO is to use the proceedings for “general corporate purposes, including working capital and capital expenditures”. It is also learnt that the Eyeblaster company may use a portion of the money collected through IPO to acquire or invest in companies or technologies which ultimately add synergy to the business of Eyeblaster Inc.
The company will list on the Nasdaq Stock Exchange with the symbol 'EYEB.'
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It will be interesting to learn see how the IPO is received by the investors. Already, the sector of online advertising is hot with Microsoft making an offer to buy Yahoo and recently Google attempting to purchase DoubleClick.net. Eyeblaster is in the business of online advertising in various streams - campaigns across digital media channels, including online, mobile and in-game, and a variety of formats, including rich media, in-stream video, display and search.
As per the figures and news, In 2007, Eyeblaster's profit rose to $7.4 million from $3.7 million. At the same time, the company's revenue jumped 62 percent to $44.7 million from $27.7 million. Eyeblaster's customer base totaled 979 in 2007.
| You never know that one fine day the Eyeblaster company may become a potential target for acquisition by the other big fishes of the pond. That will be the time when the investors and shareholders of this company will benefit substantially. | Table of Contents |
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