This Enterprise IPO Is Hot And Shares Are Soaring

InfobloxInfoblox CEO Robert Thomas

Photo: Business Insider

Infoblox’s IPO opened today on the New York Stock Exchange and investors are eating it up.It offered 7.5 million shares and opened at $16 apiece, above the expected price range of $12 to $14 each. Shares soared to $23 and are trading now at about $22.

At a price of $22.50, Infoblox has a market value of about $990 million.

Infoblox has over 5,400 customers, it says. It makes products that automate the management of networks. That’s important stuff as companies move to the cloud, but Infoblox has a secret weapon, too. It makes products that will help companies convert to the next version of the Internet, IPv6 (or Internet Protocol version 6).

Read more: You Saw What Splunk Did Today? Now Get Ready For The Next Hot Enterprise IPO

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