Brooktrout's Interspeed IPO Starts Friday

Brooktrout Inc. said its Interspeed Inc. subsidiary will debut as an initial public offering Friday, selling two million primary shares of common stock at $12 a share.

Brooktrout, which makes fax, voice mail, and computer telephony components and software, said it expects to realize a pre-tax gain of around $16.7 million in the third quarter from the IPO.

Brooktrout is also offering 1.5 million secondary shares in the transaction. It will continue to own 6.5 million Interspeed shares, or 61 percent, with a market value of $78 million, based on the IPO.

The offering is being managed by U.S. Bancorp Piper Jaffray Inc.; Warburg Dillon Read LLC; Tucker Anthony Clearly Gull; and DLJdirect, a unit of Donaldson Lufkin & Jenrette.

Interspeed's products allow Internet service providers and other data communication service providers to use existing copper wire to deliver high-speed data to their customers.