Starent Sets IPO Terms

Starent Networks Corp., a Tewksbury, Mass.-based provider of mobile multimedia infrastructure solutions, has set its proposed IPO terms to 10.5 million common shares being offered at between $9 and $11 per share. It plans to trade on the Nasdaq under ticker symbol STAR, with Goldman Sachs and Lehman Brothers serving as co-lead underwriters. It has raised around $95 million in total VC funding since its 2000 inception, from firms like Matrix Partners (20.1% pre-IPO stake), North Bridge Venture Partners (20.1%), Highland Capital Partners (18.4%), Focus Ventures (6%) and the T-Mobile Venture Fund.