| An SI Board Since September 1999 |
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WASHINGTON, Sept 10 (Reuters) - Quantum Effect Devices Inc., manufacturer of high-performance embedded microprocessors, filed Friday to raise as much as $41.4 million in an initial public offering, a Securities and Exchange Commission filing said.
QED's microprocessors are used to process information in a variety of computer hardware, including routers, printers, data storage systems, and cable modems.
With customers that include Cisco Systems Inc. and Hewlett-Packard Co. , QED had $15.3 million in gross revenue in the year ending June 30 and net losses of $11.7 million, according to the filing.
Additionally, Cisco holds a 5.6 percent stake in QED while The Goldman Sachs Group Inc. holds a 5.1 percent stake in the company.
Thomas Riordan has been QED's chief executive officer and president since he co-founded the company in August 1991 and previously held design and managerial roles at MIPS Computer Systems Inc.
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