Monday, August 5, 2013

Control4 Soars In IPO Debut

The region's latest high tech IPO got a rousing welcome Friday, after Salt Lake City-based Control4 soared in its IPO debut. Control4, which is now listed on the NASDAQ as CTRL, closed at $20.05, after pricing at $16.00 per share, in the midpoint of its initial $15.00 to $17.00 estimated range. The maker of home control hardware and software saw a healthy reception to its public debut. The rousing welcome for Control4 is great news for the company's venture backers, which include Foundation Capital, Thomas Weisel Venture Partners, Signal Peak Ventures, Frazier Technology Ventures, and Cisco Systems. Control4's hardware and software is used by homeowners to control their lights, monitor their home, and for other similar home automation uses.