Wintegra to raise $75m on Nasdaq at $336m value
Globes Online
May 04, 2006

Semiconductor and chip manufacturer Wintegra , announced on Tuesday that it would attempt to raise $70-80 million at $15 a share, giving it a company value of $336 million. The company filed its draft prospectus earlier this year in February. Wintegra was ranked fourth in Globes list of promising start-ups in 2005 and will be traded under the symbol WNTG.

Wintegra will issue 3.17 million shares, and stockholders will sell an additional 1.83 million shares, according to an amended filing with the US Securities and Exchange Commission. Goldman Sachs & Co., JPMorgan, CIBC World Markets and Thomas Weisel Partners LLC are underwriting the offering. The 750,000 green shoe options granted to the underwriters will bring the total number of shares issued to 5.75 million.

Wintegra's WinPath processors enable infrastructure equipment providers to integrate their products with the next generation of access networks through the company's multifunctional chip. Wintegra's customers include Ericsson (Nasdaq: ERICY; SAX: ERIC), Fujitsu (Tokyo: 6702), Lucent Technologies (NYSE: LU), Motorola (NYSE: MOT), Siemens (NYSE: SI; XETRA: SIE), Cisco Systems (Nasdaq: CSCO) and Israeli company ECI Telecom (Nasdaq: ECIL).

Wintegra posted $19.6 million revenue for 2005 as whole, and net profit of $762,000 on $7.2 million revenue in the first quarter of 2006, compared with a net profit of $1.02 million in the fourth quarter of 2005, and a loss of $673,000 in the corresponding quarter in 2005. This reflects annual growth of 109% and quarterly growth of 13%. The first quarter results indicate that company revenues will pass the $30 million in 2006. Wintegra has now posted profit for three consecutive quarters.

Published by Globes [online], Israel business news - www.globes.co.il - on May 4, 2006

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