Kevin Sweet, Town Administrator
195 Main St.
Maynard, MA 01754
For Immediate Release
Sunday, May 15, 2016
Contact: John Guilfoil
Email: [email protected]
Maynard Tech Company Named as the State’s First Technology IPO of 2016
MAYNARD — Town Administrator Kevin Sweet is pleased to announce that Maynard-based technology firm Acacia Communications is the first publicly-traded technology company in the Commonwealth this year.
On Friday, May 13, Acacia Communications began trading on the NASDAQ Global Market, with investors increasing the value of the company’s shares by more than 30 percent, to about $31. The company is backed by $20 million in venture funding, a dollar amount significantly lower than other publicly traded technology companies in Massachusetts.
Headquartered at 3 Clock Tower Place, Acacia supplies its networking technology, which increases computing bandwidth, to equipment makers that supply Internet service providers like Comcast and Verizon.
“We are proud to be home to this successful technology company,” Town Administrator Sweet said. “Maynard is dedicated to businesses both small and large, and the Town is pleased to see continued growth from all of our local businesses, like Acacia.”
Acacia has three other locations in New Jersey, California and Ireland, but has no plans of moving its headquarters out of Maynard. Acacia is the seventh company in Massachusetts to go public since January, making it the state with the most initial public offerings of 2016.