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Atheros Files for IPO

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LR Mobile News Analysis
Light Reading
11/27/2003

WLAN chip firm Atheros Communications Inc. has filed a prospectus with the Securities and Exchange Commission (SEC) for an IPO on the NASDAQ exchange worth up to $100 million.

No further details are available regarding the timing, potential price range, or number of shares to be made available. The offering is being underwritten by Banc of America Securities LLC, Lehman Brothers, Morgan Stanley, and Thomas Weisel Partners.

Atheros, which recently shipped its 10-millionth 802.11 chip (see Atheros Ships 10Mth Chip), has raised $98.3 million in funding in three rounds from August Capital, Fidelity Management & Research Company, Foundation Capital, New Enterprise Associates (NEA), and others.

Atheros only recently appointed a new CFO, Jack Lazar, who has experience of taking a firm public (see Atheros Names Lazar CFO). Lazar joined from Internet audience measurement firm NetRatings Inc., where he was CFO when the company listed on NASDAQ exchange in December 1999.

— Ray Le Maistre, International Editor, Boardwatch

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