Friday, July 29, 2011
InvenSense, Backed by Qualcomm, Sets IPO Pricing Range
InvenSense, the maker of the motion detecting sensors used in the Wii MotionPlus controller, has set the initial pricing range for its IPO, saying in a filing today that it expects the initial public offering price for its IPO to be between $8.50 and $10.50 per share. One of the firm's major backers is San Diego-based Qualcomm, which owns 7 percent of the firm. Other investors in the company include Artiman Ventures, Partech, and Sierra Ventures. InvenSense is based in Sunnyvale.