Communications Chip Leaders Have Portfolio IPO (TXN, MRVL, WNTG)

Wintegra Inc. is among the latest of companies filing for an initial public offering.  The Austin-based access processing semiconductor fabless designer makes highly integrated network processors optimized for mobile backhaul, 3G and 4G wireless and wireline broadband networks.   While IPO terms were not disclosed it did indicate up to $115 million in its filing, and due to prior funding this is 9.7% owned by Texas Instruments Incorporated (NYSE: TXN) and is 5.1% owned by Marvell Technology Group Ltd. (NASDAQ: MRVL).

Wintegra plans to trade under the “WNTG” on NASDAQ.  Barclays and Deutsche Bank were the only two listed underwriters for the offering.

2009 revenue was listed as $28.6 million, while Q1-2010 revenue grew to $12.1 million from $6.3 million a year earlier.  Its net loss was $2.0 million for all of 2009.  The company   and the loss was $0.9 million for the year ended December 31, 2009.  Net income for Q1-2010 was $1.6 million, up from a loss of $0.9 million from the same quarter a year ago.

The company describes its client base as follows:
Our solutions have been designed into equipment for many leading communications infrastructure OEMs, such as Alcatel-Lucent, Alvarion, Cisco, Datang, ECI, Ericsson, Huawei, Interphase, Motorola, New Postcom, Potevio, RAD, Tellabs and ZTE. Currently our solutions are utilized in networks worldwide by major communications service providers, including AT&T, Bell Canada, British Telecom, China Mobile, China Telecom, China Unicom, Chunghwa Telecom, Cox, Deutsche Telekom, France Telecom, KDDI, Korea Telecom, NTT Docomo, Orange, Sprint, Telecom Italia, Telefonica, Verizon and Vodafone.

JON C. OGG