Cortina Systems Drops IPO Plans
Sunnyvale-based Cortina Systems, a developer of network semiconductors, has dropped its IPO plans, saying in a filing with the SEC Thursday that it has elected not to proceed with its offering. The company did not give a reason for the withdrawal. Cortina had filed for a $100M IPO in March of 2011. Cortina is backed by Intel, Morgenthaler Partners, Canaan Equity, IVP, DCM, Eldorado Ventures, Storm Semiconductor, and Kodiak Venture Partners.
posted on Thursday, September 20, 2012
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