Audience (ADNC) IPO Surges Higher
Get Alerts ADNC Hot Sheet
Join SI Premium – FREE
The IPO for Audience, Inc. (Nasdaq: ADNC) is open for trading. Shares trading at $19 after pricing 5,270,180 shares at $17, above the expected $14-$16 range.
J.P. Morgan , Credit Suisse, Deutsche Bank were listed as the lead underwriters.
Audience is a leading provider of intelligent voice and audio solutions that improve voice quality and the user experience in mobile devices. We collaborate with leading auditory neuroscientists to understand the human auditory system and have developed purpose-built processors that combine science and technology to function like human hearing.
Note from the filing:
The company's processors had been incorporated in over 60 mobile device models that have reached commercial production, including those sold by leading OEMs, such as Apple Inc. (Apple) through its contract manufacturers (CMs), HTC Corporation (HTC), LG Electronics Inc. (LG), Pantech Corporation, Ltd. (Pantech), Samsung Electronics Co., Ltd. (Samsung), Sharp Corporation (Sharp) and Sony Corporation (Sony).
Commencing in the three months ended December 31, 2011, Apple has integrated our processor IP in certain of its mobile phones. Pursuant to our agreement, this OEM will pay us a royalty, on a quarterly basis, for the use of our processor IP for all mobile phones in which it is used... . Foxconn, one of Appleās CMs, accounted for 81% and 70% of our total revenue in 2010 and the nine months ended September 30, 2011, respectively.
J.P. Morgan , Credit Suisse, Deutsche Bank were listed as the lead underwriters.
Audience is a leading provider of intelligent voice and audio solutions that improve voice quality and the user experience in mobile devices. We collaborate with leading auditory neuroscientists to understand the human auditory system and have developed purpose-built processors that combine science and technology to function like human hearing.
Note from the filing:
The company's processors had been incorporated in over 60 mobile device models that have reached commercial production, including those sold by leading OEMs, such as Apple Inc. (Apple) through its contract manufacturers (CMs), HTC Corporation (HTC), LG Electronics Inc. (LG), Pantech Corporation, Ltd. (Pantech), Samsung Electronics Co., Ltd. (Samsung), Sharp Corporation (Sharp) and Sony Corporation (Sony).
Commencing in the three months ended December 31, 2011, Apple has integrated our processor IP in certain of its mobile phones. Pursuant to our agreement, this OEM will pay us a royalty, on a quarterly basis, for the use of our processor IP for all mobile phones in which it is used... . Foxconn, one of Appleās CMs, accounted for 81% and 70% of our total revenue in 2010 and the nine months ended September 30, 2011, respectively.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Digital Realty Trust (DLR) Appoints Susan Swanezy to its Board
- Deutsche Bank Upgrades MSCI Inc. (MSCI) to Buy, 'Compelling entry point for long-term investors'
- Deutsche Bank on General Motors (GM): 'Strong Start to 2024; Pricing and EV Remain Key'
Create E-mail Alert Related Categories
Hot IPOs, IPOsRelated Entities
Credit Suisse, Deutsche Bank, JPMorganSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!