SANTA CLARA, Calif. -- Transmeta Corp. here today announced that it will file an initial public offering in an effort to generate working capital for its fledging x86-compatible microprocessor business.
Serving as the underwriters for the IPO include Morgan Stanley Dean Witter, Deutsche Banc Alex. Brown, Salomon Smith Barney, Banc of America Securities LLC, and SG Cowen.
Transmeta, which did not disclose details or a timetable for the IPO, hopes to use the proceeds to develop new products, expand its operations, and compete more favorably against the likes of Advanced Micro Devices Inc. and Intel Corp., analysts said.
Recently, Transmeta made a big splash by rolling out its initial x86-compatible processors for notebook PCs and Internet-enabled devices. Earlier this week, the company announced a new processor for mainstream notebooks, while giving an update on its growing customer base (see Aug. 16 story).