WiMAX chipmaker Beceem Communications filed for an initial public offering of up to $100 million--a move Beceem said is a way to capitalize on the continue growth of mobile broadband.
Beceem will be listed on the Nasdaq stock exchange under the ticker symbol "BECM." Intel owns 20.3 percent of the company. Beceem has reported losses since it began in 2003. Last year, the company had a $17 million loss and $44 million in revenue. Now the vendor is branching out to the LTE world, announcing a chip in February that allows devices to seamlessly roam between LTE and WiMAX and between time division duplex and frequency division duplex configurations.
This may be the year for mobile broadband companies to begin coming to market as the demand for services heats up. Wireless LAN provider Meru Networks raised about $65.8 million in its initial public offering late last month, pricing approximately 4.4 million shares at $15 each.
For more:
- see this AP article
- see this TheStreet.com article
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