Mobility Electronics files $70 mln IPO
--------------------------------------------------------------------------------
Mobility Electronics files $70 mln IPO
WASHINGTON, Feb 14 (Reuters) - Mobility Electronics Inc.,
which has a communication protocol technology that could
benefit the portable computer market, filed to raise $70
million in an initial public stock offering.
Mobility, which is based in Scottsdale, Ariz., designs,
develops and markets connectivity and remote peripheral
component interface, or PCI bus, technology and products for
the computer industry.
The PCI bus is the electrical path which links a computer's
central processing unit with its memory and other devices like
modems, disk drives and local area networks.
The company's Split Bridge technology consists of a link
between two customized semiconductors known as
application-specific integrated circuits, or ASIC chips, two
connectors and a high-speed, bi-directional cable.
The technology, for the first time, allows the primary PCI
bus of any computer to be extended to a remote location with
virtually no software or loss in performance, the company said.
Mobility's first major use for Split Bridge is the creation
of a new universal docking product which enables nearly all
users of portable computers, regardless of make or model, to
configure a flexible, high performance docking solution.
One of the major beneficiaries of this technology could be
the portable computer market, the fastest growing segment of
the personal computer industry, said Mobility.
Demand in this market has been fueled by advances in
computer technology and the demand for computer mobility, said
Mobility, whose major customers include Compaq Computer Corp.
CPQ.N, CompUSA Inc. CPU.N, Gateway Inc. GTW.N and Toshiba
Corp 6502.T.
Coupled with this trend toward portability is the increased
demand for computers that are smaller and lighter but just as
powerful as desktops.
To make these devices more convenient to use in the office
and home, port replicators and docking stations have been
developed to allow users to connect to networks, peripheral
devices and external power sources.
Mobility plans to use the net proceeds from the IPO for
working capital and general corporate purposes, including debt
repayment, increased spending on sales and marketing, research
and development and potential acquisitions.
The number of shares being offered to the public, their
price range and other terms were not disclosed in the company's
preliminary prospectus filed on Friday with the Securities and
Exchange Commission. Those figures are expected in later
filings.
Mobility has applied to list the shares on Nasdaq under the
symbol "MOBE," and the underwriters are Deutsche Banc Alex
Brown, Banc of America Securities and J.C. Bradford.
REUTERS
Rtr 13:08 02-14-00 |
