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News Article

News in brief: Color Kinetics, Motorola, RFMD

LED lighting specialist Color Kinetics files for an IPO, Motorola enjoys strong semiconductor and cell phone handset sales, and RFMD acquires a specialist Bluetooth company.

Color Kinetics files for IPO
LED lighting system manufacturer Color Kinetics has filed with the Securities & Exchange Commission (SEC) for an initial public offering (IPO) of shares in its common stock.

The Boston, MA, company recently closed a $13 million financing round, and has appointed CIBC World Markets and Neeedham & Company as joint lead managers for the offering.

It is yet to set an estimated range for either the share price or the number of shares set to be offered.

Color Kinetics has an intellectual property portfolio covering methods of controlling the output from LEDs in architectural, entertainment and other applications. It was recently awarded a US patent covering the use of LEDs in automotive lighting systems.

Recent installations have included illumination of an 80-foot-tall beanstalk in Times Square, New York, and the set of the US television game show Super Millionaire.

Motorola boosted by semiconductors and cell phones
Strong sales of cell phone handsets and semiconductors boosted earnings at Motorola to $8.6 billion for the quarter ended April 3 2004.

The overall revenue figure was 42% higher than the equivalent period last year. This was primarily due to very strong handset sales, which were up 67% over the same period to $4.1 billion.

The semiconductor products segment, which is in the process of being spun off into the separate company Freescale Semiconductor, also enjoyed strong growth. Sales were up 21% on last year’s figure to almost $1.4 billion.

RFMD acquires Silicon Wave for $10.8 million
RFIC manufacturer RF Micro Devices (RFMD) is to acquire Silicon Wave, a San Diego, CA, company that specializes in CMOS radio processors for Bluetooth applications.

Silicon Wave’s technology is said to use a unique architecture that does not require external RF components.

RFMD will pay $10.8 million to acquire all of the shares that it does not already own in Silicon Wave, with the deal expected to close within 30 days. The company expects to reach a break-even point on the transaction in 12-15 months.

Silicon Wave will be incorporated into RFMD’s recently-formed wireless connectivity business unit.

Industry analyst IMS Research has predicted that 100 million Bluetooth devices will be shipped this year, and that the market is set to grow six-fold over the next three years.

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