ANDA Cancels IPO

ANDA Networks Inc., a Sunnyvale, Calif.-based provider of carrier-class Ethernet solutions, has withdrawn registration for an $86.25 million IPO, due to “unfavorable market conditions.” The company had planned to trade on the Nasdaq, with Thomas Weisel Partners and RBC Capital Markets serving as co-lead underwriters.

 

ANDA has raised nearly $118 million in total VC funding since 1998, from firms like Venrock, Highland Capital Partners, Crimson Investments, Saints Venture Capital, Cascade Capital and Fuhwa Venture Capital. www.andanetworks.com