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CSR Preps for IPO

Light Reading
LR Mobile News Analysis
Light Reading
1/26/2004

Bluetooth trailblazer Cambridge Silicon Radio plc (CSR) is to seek a listing on the London Stock Exchange, despite claiming last month it had “no immediate plans” for an IPO (see CSR Dismisses IPO Talk).

In fact, the U.K. startup is still unable to make much noise about today’s news. Unstrung has been asked not to publish the official release announcing the flotation, as the firm didn't want the announcement published in Australia, Canada, Japan, or the U.S. [Ed. note: Damn this pesky Internet thing!]

Not to worry, because the Brit company's announcement didn't have much in the way of hard news for the discerning former colonial -- or Japanese -- reader anyway. No further details are available regarding the value, timing, potential price range, or number of shares to be made available [ed. note: booooooooooring!].

CSR has been at the forefront of the single-chip Bluetooth market since 1999, securing $85 million in funding over four rounds from VC firms LDC and Scottish Equity Partners (see CSR Raises $19M and Funding: Startup Roundup). The company currently has 198 employees.

The company’s turnover for the year ended December 31, 2003, was $67.6 million, representing a 144 percent increase on 2002.

— Justin Springham, Senior Editor, Europe, Unstrung

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