Beceem Communications filed for an initial public offering of up to $100 million. The WiMAX chipset vendor said the move is an attempt to capitalize on the continued growth of mobile broadband.
The company, which counts Clearwire as a major customer, said it plans to be listed on the Nasdaq stock exchange under the ticker symbol "BECM." One major strategic investor is Intel, with a 20.3 percent stake. Intel is also an investor in Clearwire, and supplies chips for laptops with built-in WiMAX modems.
Beceem, which was a FierceWireless Fierce 15 winner in 2006, has reported losses since it began in 2003. Last year, the company had a $17 million loss and $44 million in revenue. In February, the company seemed to hedge its bets in WiMAX by announcing a LTE/WiMAX combo chip. The company said the chip will allow devices to seamlessly roam between LTE and WiMAX, and between time division duplex and frequency division duplex configurations.
For more:
- see this AP article
- see this TheStreet.com article
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