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Technology Stocks : Son of SAN - Storage Networking Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Gus who wrote (2267)	9/18/2000 11:09:33 PM
From: trendmastr	Respond to of 4808

from briefing.com: Inrange Tech (INRG) : With the IPO market in hibernation over the past few weeks, investors will be chomping at the bit when the IPO market reemerges this week and even more so next week. An interesting issue on the docket this week is Inrange Technologies which makes switching and networking products for storage, data and telecom networks. Its products provide fast and reliable connections among networks of computers. This deal is a 10% spin-off from SPX Corp. (SPW). Investors will be pleased if INRG performs anything like a recent IPO of a competitor, McData (MCDT). Brocade (BRCD), another player in this space, has similarly enjoyed a strong run in its stock price recently as the stock as doubled since late May. Gadzoox Networks (ZOOX), however, has been a laggard. On the telecom network side, INRG competes with Hewlett Packard (HWP), Inet (INTI), and Tekelec (TKLC)....Within the storage network industry, Inrange is the leading provider of high-end storage network switches, commonly known as director-class switches. The Fibre Channel market for storage area network hubs and switches is booming and it's estimated that the market for director-class switches will be the fastest growing segment of the Fibre Channel market. Director-class switches are expected to maintain a 300%-500% price premium over the next lower segment of Fibre Channel switches for the foreseeable future as a result of their enhanced scalability, functionality and reliability. In April, INRG began shipping the industry's first 64-port Fibre Channel director-class switch and expects to introduce a 128-port version by year-end and a 256-port version by the end of 2001. The float is small at 7.7 mln shares priced at $12-$14 and is being led by Salomon Smith Barney. With so few IPOs hitting the market, a company like Inrange is sure to get plenty of attention. -- Robert J. Reid, Briefing.com