Andrew: I've seen nothing to indicate the SMSC deal is exclusive, so you likely are correct in suggesting IBM could purchase the stand-alone chip. Everyone presumably is looking to maximize the economies of scale here, so I'd expect the most cost-effective route will be taken. The SMSC press release mentioned something about "dramatically reducing the per unit cost, engineering and customization...by having the WaveMeter built into the motherboard."
Thanks for your posts on the S-1/A, btw. You were correct that it relates to the same shares as did the mid-April S-1, including the shares for conversion by the Reg. D investor Combination, Inc. Various share figures have changed as you noted, but I do see other modifications as well. For example, financial information is brought current by including Q1's results, there is updated data on stock price performance, etc.
I'm having a little difficulty pulling up the full 43 pages off of Edgar's. I hope to find time to read it more closely to make certain all the key business relationships are re-affirmed as of early June. Someone had recently raised the year 2000 issue, and the company comments in the S-1/A that it does not expect that issue to affect operations or products. I believe that was also in the S-1.
Enjoy the weekend, all.
Pure Folder
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