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Semiconductors - Monday, July 30, 2007

Digital Home Chip Maker Entropic Files $100M IPO

Entropic Communications filed to raise up to $100M in an IPO on Nasdaq. Credit Suisse and Lehman Brothers would be the lead underwriters and Entropic plans to list its stock on the Nasdaq under the symbol "ENTR"

Entropic makes chips to enable connected home entertainment and aims to change the way high-def quality TV video, movies, music, games and photos are brought into and delivered throughout the home. It enables connected home networking over existing coaxial cables.

The company was founded in 2001 and last year posted revenues of $67.6M with a loss of $22.96M. In the first quarter of 2007, Entropic lost $2.896M on $29.24M in revenues.

Entropic's investors include: Anthem Venture Partners; Cisco, CMEA Ventures, Comcast Interactive Capital, Conexant, Cox Communications, The Dow Employees Pension Plan, EchoStar Satellite, Freescale Semiconductor, Focus Ventures, Granite Ventures, Intel Capital, Liberty Associated Partners, Mission Ventures, Motorola, Mototech, Panasonic, Redpoint Ventures, Revolution Ventures, Saints Capital, Belvedere LP, Texas Instruments, Time Warner, Verizon and YAS Broadband Ventures.

Read - Reuters post