Aquantia Said to Tap Morgan Stanley for Chipmaker IPO This Yearby and
Aquantia Corp., a maker of chips that control high-speed data cables, tapped Morgan Stanley to lead its initial public offering, a person with knowledge of the matter said.
The IPO could come during the second or third quarter of this year, said the person, who asked not to be identified because the information is private. The San Jose, California-based company booked revenue of less than $100 million in the past year, the person said.
Semiconductor IPOs are rare: Of the $85 billion raised by more than 300 technology and Internet companies since 2010, about 3.4 percent have been in that industry, according to data compiled by Bloomberg.
Spokeswomen for Aquantia and Morgan Stanley declined to comment.
Aquantia designs chips that enable Ethernet cables to transmit data between computers and networking equipment. Over the past decade, it’s raised $199 million in venture funding through November, according to a company statement.