NETANYA, Israel Israeli startup CopperGate Communications, which specializes in chips for homenetworking devices, is on its way to raise between $400 and $600 million in an upcoming IPO, according to the Israeli newspaper Globes .
The company, whose revenue for 2007 are between $40 and $50 million, is going to select the bankers who will lead the IPO soon, the report suggests.
Motorola Ventures is one of the main backers the startup.
CopperGate was the first company to ship HomePNA capable silicon , and is sampling a chip supporting the higher data rate 3.1 specification.
Founded in 2000, CopperGate is headquartered in Tel Aviv, Israel, with offices in Newark, California, Taiwan, China and Tokyo.
The company works with firms such as AT&T to deliver products that operate over both phone lines and coax cables enabling consumers to connect equipment to broadband services throughout the home