Vonage, the private internet telephony start-up is being encouraged to consider a sale while it moves ahead with plans for an IPO. UBS and Deutsche Bank, the banks chosen by Vonage to underwrite their stock offering has suggested they conduct a parallel process.
This is a standard tactic for a hot offering. If they cannot get a high enough valuation by selling the company to likely candidates from the Telco, Media or Internet sectors they will go ahead with the IPO. The general view is that if sold privately Vonage could go for up to $1.5bn.
At an IPO Vonage is looking to raise around $600M.
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