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Allot seeks $100M in funding

Thu, 12/09/2010 - 7:15am
Maisie Ramsay, Wireless Week

Israel-based network optimization company Allot Communications is considering raising $100 million in funding, according to documents filed with the SEC.

In a shelf registration statement filed today, Allot said it may sell up to $100 million of shares, warrants or debt securities in one or more public offerings in the future. Allot will be able to sell the securities once the registration statement is declared effective by the SEC.

The company plans to use the proceeds from the sale for general corporate purposes, it said.

Allot has benefited from rising demand from wireless operators seeking ways to leverage information about their subscriber's data consumption to help manage network traffic and offer new services.

The company's third-quarter sales rose 36 percent to $14.7 million, helping the company swing to a profit of $800,000. Allot received orders from 12 mobile operators last quarter. The company also provides services to fixed-line operators.

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