SAN MATEO, Calif.Numerical Technologies Inc., provider of tools for subwavelength IC design and manufacturing, has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of shares of its common stock.
The company, which is now in a quiet period and declined to comment further, has been making aggressive business moves in the past month. It acquired Transcription Enterprises Ltd. in mid-January and then signed a large OEM agreement with EDA juggernaut Cadence Design Systems.
Numeritech would become the first EDA tool provider in three years to make a public offering for listing on Nasdaq. PCB tool vendor Protel Technologies made a public offering on the Australian Stock Market last year, but Summit Design Inc. was the last to go public on Nasdaq, in late 1996. Since that time, only a select few EDA vendors have fared well on the public market, which has made most EDA start-ups look toward acquisition by larger vendors as their exit strategy of choice.
Financial analysts said Numeritech likely will market itself to investors as a provider of subwavelength solutions because, in addition to having optical proximity correction technology, the company also provides software for the IC manufacturing and equipment industries, both of which have better reputations on the market.
The company, which has roughly 100 employees, plans to be listed on Nasdaq under the symbol "NMTC" and lists Credit Suisse First Boston Corp. as its lead underwriter of the offering. Other underwriters of the offering include Hambrecht & Quist LLC and SG Cowen Securities Corporation. The registration Form S-1 relating to the common stock has been filed with the Securities and Exchange Commission but has not yet become effective.