Casa Systems, which helps cable companies boost speeds, is going public
Casa Systems Inc., an Andover-based tech company that helps cable companies increase the speed of the connections they offer, filed an initial public offering of stock and raise as much as $150 million.
Casa, which said its software is helping companies including Time Warner Cable and the Canadian giant Rogers, announced its intention to go public in a recent filing before the US Securities and Exchange Commission.
Founded in 2003, Casa said it is profitable, with revenue last year of $316.1 million and a net income of $88.7 million. It said it employs 664 full-time employees, 347 of which are in the US.
Casa, which in 2010 landed a nearly $100 million investment from Boston-based Summit Partners, is testing the market on Wall Street amid a slow period for tech companies going public. Last month, the region saw a rare tech IPO when the online automotive marketplace Cargurus Inc. raised more than $150 million.