Web site: bsquare.com
From the S-1:
We provide a broad range of software products and services that facilitate the integration of the Microsoft Windows CE operating system into a variety of intelligent computing devices, or ICDs, and enhance the functionality of those devices. Original equipment manufacturers, or OEMs, semiconductor vendors and Windows CE software developers rely on our products and services to help bring customized ICDs and ICD applications to market in a timely fashion. We have been providing Windows CE-based software services since prior to the commercial release of Windows CE, and therefore we believe that we offer a greater breadth and depth of Windows CE expertise than any of our current competitors.
ICDs are an emerging class of products with sophisticated processing power that are designed for specific computing and communications applications. Examples of ICDs include Internet-enabled television set-top boxes, handheld and palm-size PCs, gaming systems, handheld industrial data collectors, consumer Internet appliances such as kiosk terminals and vehicle navigational devices, and Windows-based terminals. Compared to traditional computers, ICDs are often less expensive and more adaptable in terms of their size, weight and shape, while still providing sophisticated computing and communications capabilities, including Internet connectivity.
We develop products and provide services that enable the development of Windows CE-based ICDs. We generate revenue in three distinct ways. First, we provide engineering services to Microsoft and semiconductor vendors to adapt Windows CE to different microprocessors and to enhance Windows CE's user-specific features and functions. Second, we offer a comprehensive set of software products and services that help enable OEMs to cost-effectively integrate Windows CE into their ICDs. Third, we license a wide range of Windows CE-based software applications to both OEMs and ICD consumers to provide additional functions to Windows CE-based ICDs, such as printing and faxing capabilities. To date, we have provided our products and services to companiessuch as Microsoft, Hitachi, NEC and ARM.
We intend to become a primary provider of software products and services for facilitating the integration of operating systems into ICDs. The key elements of our strategy include building on our expertise as a provider of Windows CE software products and services, expanding our strategic relationships with semiconductor vendors and OEMs, maintaining and expanding our relationship with Microsoft, developing additional software applications and expanding our international presence.
Revenues and profits for the year ending December 31, 1998 were $24.6 MM and $2.3 MM, respectively. 79% of the revenues came from Microsoft. Revenues and profits for the six months ending June 30, 1999 were $18.5 MM and $.866 MM, respectively. 87% of the revenues came from Microsoft.
Original filing date: August 17, 1999
Expected offering date: Week of October 18, 1999
Exchange: Nasdaq
Symbol: BSQR
Proposed price range: $12 to $14 per share
Shares being offered: 4.0 MM
Shares outstanding after offering: 32,196,656
Underwriters: Credit Suisse First Boston, Lehman Brothers, A.G. Edwards & Sons, Inc. and Wit Capital Corporation |
