eASIC, a fabless designer of custom chips for the wireless, networking and storage markets, withdrew its plans for an initial public offering on Friday. It originally filed for a $75 million IPO in February 2015 and last updated its filing in August.
congatec Holding (CONG), a German fabless computer-on-modules company, postponed its US IPO reportedly over valuation pushback. Adesto Technologies (IOTS) raised $25 million in its October 2015 IPO after slashing the proposed valuation by more than 50%, but now trades 40% above its offer price.
The Santa Clara, CA-based company was founded in 1999 and booked $74 million in sales for the 12 months ended March 31, 2015. It had planned to list on the Nasdaq under the symbol EASI. Morgan Stanley and Deutsche Bank were set to be the joint bookrunners on the deal.
