congatec Holding AG (CONG) Files $60M IPO

congatec Holding AG (Nasdaq: CONG) filed a registration with the U.S. SEC for an IPO of its Common Stock. The proposed maximum offering price is $60 million. The company plans to list on the Nasdaq under the symbol, CONG.

Underwriters are Stifel, Needham & Company, Canaccord Genuity, and JMP Securities.

Operational summary: "We offer five product families and have shipped more than 1.6 million modules since our inception in 2004. We operate under a fabless business model, meaning we outsource all of the manufacturing, assembly and testing of our products to third parties, enabling us to maintain a flexible and capital efficient business model. As of June 30, 2015, we had 184 employees worldwide, of which roughly one-third were in engineering related functions (research and development, technical support and quality management). We are headquartered in Deggendorf, Germany, and have established additional research and development, or R&D, centers in the Czech Republic, Taiwan and the United States. For the six months ended June 30, 2015 and June 30, 2014 and the fiscal years ended December 31, 2014 and December 31, 2013, we recorded revenue of $46.5 million, $39.7 million, $85.0 million and $70.2 million, respectively, and net income of $2.0 million, $1.0 million, $3.6 million and $3.7 million, respectively. Our revenue by geographic region for the year ended December 31, 2014 was 68.9% in Europe, the Middle East and Africa, or EMEA, 18.7% in the Asia-Pacific region, or APAC, and 12.4% in the Americas, as compared to 67.8% in EMEA, 19.5% in APAC and 12.7% in the Americas for the same period in 2013."

congatec is a leader in the design, development and delivery of high-performance embedded computing solutions that enable computing capabilities across a variety of system-level applications and end markets, including industrial automation, medical, entertainment, transportation and test and measurement.

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