"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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