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Un-Shelved: Intelius Eyes New IPO Plans

Holy cow, we just might make it. The CBOE Volatility Index has fallen. After a nearly two-month lag in which no executive in his or her right mind would even whisper the three little letters “I-P-O,” Ubiquiti Networks announced plans to go public.

Now, says Naveen Jain, CEO of Intelius, the Washington state-based provider of public records data for businesses and consumers that had backed off plans to go public about a year ago will pursue an IPO, possibly as early as the second quarter of 2012.

With apps and services like TalentWise and DateCheck, Intelius provides a variety of offerings to businesses and consumers alike. Jain declined to say which one was generating the most revenue for his company. But he did say Intelius, which has been operational since 2003, will generate $150 million in revenue this year with approximately 20 million clients (up fivefold from the company’s reported client base in ’08).

Further, Jain added, the 2012 IPO now planned could be upsized from Intelius’ prior expected offering, which was for $143 million in 2008. The bankers will remain the same from Intelius’ previous attempt to go public: Deutsche Bank, UBS, Pacific Crest, Needham & Co. and Oppenheimer, Jain said.

Proceeds from the IPO will be put to use in M&A to further develop Intelius’ international presence, Jain told peHUB. Already, his company has a handful of deals under its belt. During its quiet period, in 2010, the company acquired US Search, a rival tracker of people and public records. The prior year, Intelius acquired California-based search engine Spock, and, before that, the Qwil Company.

While Jain’s most recent success with Intelius would be enviable to Silicon Valley entrepreneurs, the CEO has been subject to controversy in the past. After leading InfoSpace public, another Washington-based Internet company, Jain was terminated as CEO in 2002 as the firm’s shares plummeted.