Austin-based chip development firm Wintegra updated their 2006 IPO filing on Friday. The current plan is to raise $115M on a valuation of somewhere between $250M – $500M. The offering will be led by Barclay’s and Deutsche Bank Securities. The people gaining some liquidity from this deal include funds Magma, Concord, and Genesis, chip makers Marvell and Texas Instruments, and CEO Jacob Ben-Zvi.
When it first planned an IPO in 2006 the company had revenues of $31.9M. In 2009 the company had revenues of $28.6M, slightly less than their 2008 revenues. The company has been on a growth run lately, with Q1 revenues of $12.1M thanks to a strategic switch to focusing on mobile backhaul solutions.
“Sell on the growth,” I always say.
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