Arteris, which develops and licenses interconnect IP for semiconductor SoCs, raised $70 million by offering 5 million shares at $14, the low end of the range of $14 to $16. At pricing, the company commands a fully diluted market value of $518 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 plans to list on the Nasdaq under the symbol AIP. Jefferies, Cowen, and BMO Capital Markets acted as lead managers on the deal.
