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Net filtering company raises $72 million

Websense prices its initial public offering at $18 a share, a 12.5 percent increase over its recently raised pricing range.

Net filtering company Websense today priced its initial public offering at $18 a share, a 12.5 percent increase over its recently raised pricing range and a sign of strong investor demand.

The company, which provides Web filtering and traffic management software, raised $72 million through a sale of 4 million shares. The company plans to begin trading tomorrow on the Nasdaq Stock Market under the ticker "WBSN."

Demand for Websense's IPO comes amid investor demand for Internet infrastructure companies. FairMarket, which helps companies build online auctions, was another recent infrastructure company to grab the money and minds of investors. FairMarket shares priced at $17 and nearly tripled on their first day of trading earlier this month. The shares today closed at $39.06.

Late last week, Websense raised its pricing range to $14 to $16 a share from its initial range of $12 to $14.

In addition to its role Tune in to CNET News.com TV's IPO Forecastin the Internet infrastructure market, IPO analysts also favored the company because it has some big-name customers, including American Express, BellSouth and Coca-Cola.

Those customers helped Websense generate $8.6 million in revenues last year, an increase from $6.9 million the previous year. The company posted a widening loss of $9 million for the year, however, compared with $5.6 million a year earlier.