Ness Technologies, an Isreali provider of information technology services (i.e. outsourcing, development, software, consulting) to more than 500 clients, has announced the terms of its upcoming IPO on Wednesday. The company plans to offer 11.7 mm shares, of which 4.1 mm are being sold by insiders, at a price range of $15-17 a share. This proposed offer would result in a market capitalization of $496 million; Lehman Brothers and Merrill Lynch are the joint book runners on this deal, and no pricing date has yet been scheduled.
