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Network equipment maker BigBand Networks Inc. [BBND] could be on the block, according to a report in Light Reading. The online publication's Cable Digital News site says BigBand's announcement that it would stop producing its cable modem termination system, or CMTS, product line could clear the way for a sale of the company, which makes technology that enables service providers to offer their video and data services across coaxial, fiber and copper networks.
Shutting down the product line, which was unable to grab significant market share from big rivals like Cisco Systems Inc. [CSCO], makes BigBand more attractive for suitors including Arris Group Inc. [ARRS], which already has a CMTS offering. Another possible buyer is Harmonic Inc. [HLIT], the report says.
BigBand went public in a $139 million IPO in March, providing a long-awaited exit for venture capitalists. Its shares posted a strong gain in their debut, but since then, they've flagged. BigBand's stock has been trading recently at less than half of its $13 IPO price, though they gained about 3.3%, reaching $6.20, in early aftternoon trading Thursday. - Olaf de Senerpont Domis
See Oct. 31 story from Light Reading
See March 15 story from TheDeal.com
See March 22 post from VCRatings
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