France-based NFC chip supplier Inside Secure has relaunched its initial public offering, planning to raise up the €79 million (US$103.4 million), as it seeks to stay competitive in an increasingly crowded NFC market.
The chip vendor had cancelled its planned IPO seven months ago, citing the European debt crisis, but relaunched the offering today, as it seeks to build on its advantage as one of the first chip suppliers to the NFC market. It also hopes to keep its technology ahead of much larger chip makers planning to enter the market.
“We want to finance the growth and R&D and increase our balance sheet,” Rémy de Tonnac, CEO of Inside Secure, told NFC Times at a press event in Paris this morning. “Samsung, Nokia, RIM, they want to see a strong balance sheet. (And) we want to get the recognition of being public. That has always been our target.”