March Networks plans to raise $75 million through IPO

March Networks Corp has announced its intent to go public. The Ottawa-based developer of video networking products filed a preliminary prospectus for an initial public offering that is expected to raise up to $75 million. Company chairman Terence Matthews (founder of Mitel Corp and Newbridge Networks Corp) owns 43.5% of March Network’s shares and options before the IPO. The IPO will be offered through Canada by an underwriting syndicate led by RBC Capital Markets and Evolution Securities Limited. In other news, March has added three new board members: Chris Burke (former CTO and CIO of Vodafone UK Ltd); Peter Charbonneau, general partner at Skypoint Capital Corp; and, David Homer , director of strategic outsourcing at IBM Global Services....