Arteris, which develops and licenses interconnect IP for semiconductor SoCs, announced terms for its IPO on Monday.
The Campbell, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Arteris would command a fully diluted market value of $555 million.
Arteris states that it is a leading provider of interconnect and other intellectual property (IP) technology that manages the on-chip communications in System-on-Chip (SoC) semiconductor devices. Its products enable its customers to deliver increasingly complex SoCs that not only process data but are also able to make decisions, and it believes this increase in SoC complexity is creating a significant opportunity for sophisticated SoC system IP solutions, which consist of Network-on-Chip (NoC) interconnect IP, IP deployment software, and NoC interface IP. As of June 30, 2021, Arteris had 166 Active Customers for both IP licensing and software products.
Arteris was founded in 2003 and booked $38 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol AIP. Jefferies, Cowen, and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of October 25, 2021.
