Sequans Communications reportedly has its eyes on an initial public offering in the United States to raise up to $80 million.
The Paris-based chipset maker, which has backing from Alcatel-Lucent (ALU), Motorola Inc. (MOT) Swisscom AG and several venture capital firms, has been seeking out banks to handle different aspects of the IPO, according to Reuters. In a sign of unsure confidence, at least two major investment banks have declined, according to unnamed sources in Reuters’ report.
The company got its start with WiMAX, but has recently pushed into the LTE space as well. It currently has deals with Acer Inc., Cisco Systems Inc. (CSCO), Huawei Technologies Co. Ltd. and others.