US startup Transmeta has announced plans for its much
anticipated initial public offering (IPO), which it will use to
fund the development of its low-power chips designed for use in
notebook PCs and mobile internet devices.
Transmeta, which filed a registration statement with the
Securities and Exchange Commission late yesterday, hopes to raise
$200m through the offering.
The company has not set a date for the IPO, which lists six chip
lines comprising three processors for internet appliances and three
TM5X00 chips for notebook computers. It also did not specify the
number of shares it expects to offer.
Andy Brown, an analyst at IDC, said the IPO is an important move
for Transmeta, as the company will need to be well established when
products containing its chips are released in the autumn.
"It will be interesting to see if any companies that don't have
a stake in Transmeta use the chips in their devices," he said.
Earlier this week, Sony said it will launch a notebook computer
using Transmeta's low-power chips later this year. IBM has also
pledged to use Transmeta's Crusoe chips in its I-Series of consumer
notebooks in the fourth quarter of this year. Both companies have
invested money in the chip startup.
Morgan Stanley Dean Witter and Deutsche Bank Alex Brown will act
as managers for the proposed offering.
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