IPO confirmed as tech rebounds?
By Jo Best
Published: 27 January 2004 12:35 GMT
The tech sector - and wireless in particular - could well be showing the green shoots of recovery, if Cambridge Silicon Radio is anything to go by.
The wireless-chip maker, which produces hardware used in half of Bluetooth-enabled phones, announced on Monday that it intends a 25 per cent flotation during the first quarter of this year.
The flotation could net CSR more than £50m in new funding and may well see some of the company's original investors - which include Sony, Intel and venture capitalists 3i - jumping ship.
CSR showed a healthy full-year turnover last year of nearly £37m, producing two quarters of profitability and a massive year-on-year increase in earnings, after signing up new customers such as Nokia and IBM.
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