Apple’s iPhone Chipmaker Audience Inc plans to raise $75 million in an Initial Public Offering. Investment Banks such as JP Morgan, Credit Suisse, Deutsche Bank are among the underwriters.Aims to list shares under symbol “ADNC”. Audience Inc based Mountain View Calif stated in a regulatory filing. Audience Inc has not revealed how many share will it float and its price per share. Audience began shipping chips in 2008, attracting Apple, Samsung, LG Electronics Inc. and HTC Corp. Investments Companies New Enterprise Associates Inc., Vulcan Capital Venture Capital and Tallwood Venture Capital own much of the company.
According to sources The company had shipped more than 135 million processors by the end of 2011. Audience was founded back in 2000, reported profits of $13.9 million in its Q1 in 2011, in comparison loss of 362,000 in the year-earlier period. More Audiences sales thrived forward to to $79.7 million from $16.1 million.Cupertino based Apple Inc contract manufacturers account 79% of Audiences Sales in first nine months of 2011, Samsung accounted for 17 percent last year.Audience plans to list on Nasdaq under the symbol ADNC.
