Force10 Networks Files for IPO

Force10 Networks Inc., a San Jose, Calif.-based provider of network routing and switching equipment, has filed for a $143.75 million IPO. It plans to trade on the NYSE under ticker symbol FTEN, with J.P. Morgan, Deutsche Bank Securities and Barclays Capital serving as co-lead underwriters.

The company, which early last year merged with Turin Networks, reports 2009 revenue of $113 million and a net loss of $76 million.

Force10 has raised over $400 million in total VC funding since 1999, while Turin Networks had raised over $250 million. Current shareholders include Advanced Equities (28.1% pre-IPO stake), New Enterprise Associates (9.8%), DCM, U.S. Venture Partners and Meritech Capital Partners.