Maybe timing isn't everything.
Despite a huge downturn in the routing and switching sector caused by slower
capital spending by service operators, Riverstone Networks Inc.'s first
afternoon as a publicly traded stock went much more smoothly as shares rose
almost 9 percent, closing at $13.06.
Riverstone -- a unit of Cabletron Systems Inc. that trades on the NASDAQ
exchange under the 'RSTN' ticker -- priced its initial public offering of 10
million shares at $12 apiece, valued at about $120 million.
Riverstone marked the first 'of a series of spinoffs,' Rochester, N.H.-based
The spinoff's customer roster includes British Telecommunications plc,
WorldCom Inc. and EarthLink Network Inc.
In the cable sphere, Riverstone has partnered with Tellabs Inc. on a
cable-modem-termination system called the 'CABLESPAN 2700.' Its 'RS 8000' switch
router was awarded Data Over Cable Service Interface Specification
1.0-qualification from Cable Television Laboratories Inc. in
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.