AUSTIN, Texas—Chipmaker Wintegra Inc. announced plans for an initial public offering in which it hopes to raise as much as $86 million. The company makes silicon for a variety of infrastructure products, including those for wireline and wireless networks. L.M. Ericsson, Fujitsu Ltd., Lucent Technologies Inc., Motorola Inc. and Siemens AG are among those that use Wintegra’s chips.
Wintegra did not give a date for its IPO.
Founded in 2000, Wintegra counts around 100 employees, with around 65 of those workers devoted to research and development. The company moved into the black starting last year, recording $19.6 million in revenues and a net income of $194,000.
Wintegra said it plans to use the proceeds from an IPO for “general corporate purposes, including working capital, sales and marketing and research and development expenditures and, to a lesser extent, capital expenditures.”
The company said it would use around $4 million of the proceeds to repay its currently outstanding bank debt.
