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CNET News.com: Transmeta one step closer to IPO

Jul 18, 2000, 19:44 (0 Talkback[s])

"Transmeta, developer of a new chip for mobile computing that could challenge Intel, picked Morgan Stanley Dean Witter and Deutsche Banc Alex. Brown to arrange an initial public offering later this year, a person familiar with the matter said."

"Founded in 1995 and backed by investors such Microsoft co-founder Paul Allen, financier George Soros and Sony, Transmeta could raise several hundred million dollars in the sale, making it one of the largest technology IPOs this year."

"The proceeds would help Transmeta design chips for the rapidly growing market for portable Internet devices. Hitachi, IBM, America Online and Gateway are among the companies that plan to use the chips as an alternative to products from Intel and Advanced Micro Devices, which together sell more than 95 percent of all PC processors."

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