Inference Corp, El Segundo, one of the group of artificial intelligence pioneers that all found the market unready for the concept and had to scale its ambitions back to software development tools, has finally decided the time is right to go public and it has filed for an initial public offering of 2.2m Class A common shares, 1.8m of them new. It looks for at least $17.5m to be used for working capital. Prudential Securities Inc, J P Morgan Securities Inc and SoundView Financial Group Inc underwrite.
Integrated Device Technology Inc, Santa Clara says it plans to raise $150m before expenses with an issue of convertible subordinated notes due 2002.Proceeds will be used to continue construction of its new wafer fabrication facility in Hillsboro, Oregon, expansion of capacity and acquisition of capital equipment. The coupon and the conversion rate have not yet been set, and the company did not name the underwriters for the proposed offering.
