Networking vendor ACC is expected to float shares on the Nasdaq exchange within the next two months, according to sources close to the firm.
One source said: 'ACC is planning an initial public offering (IPO) with the Nasdaq and will probably file it some time in November.'
The US-based firm, which is 51 per cent owned by Canadian Wan vendor Newbridge Networks, admitted that an IPO was planned, but refused to confirm any details.
Bert Whyte, ACC president, agreed the technology-strong Nasdaq was a more likely option for a firm like ACC. 'We have been considering an IPO for some time. It is difficult to get on to the New York Stock Exchange, as a firm must have a significant revenue history. The Nasdaq allows riskier enterprises to float.'
ACC's 1997 Q1 financial results showed turnover of $9.4 million and profit of $500,000 million for the three months ended 30 June.
Watford-based Hills Components ceased trading last month and its current inventory will be auctioned off
Robots, predictive analytics and selling without a salesforce: Where the UK's leading MSPs think the market is heading
MSP bosses to share their thoughts on the future of the managed services market
Distributor on course to hit £20m revenue this year
In an interview with CRN, Wendy Mars says Cisco and its partners are no longer having to arm-twist customers on the need for digital transformation