IPOs get the limelight, but many Canadian techs are choosing alternate routes to the public markets. The most recent, Toronto’s ViXS Systems, will begin trading on the TSX Monday, July 15th, under the symbol “VXS”.
In April, ViXS Systems announced it would go public through an amalgamation agreement with capital pool company W7 Acquisition Corp. In May, the company completed a $57.4 million financing, led by GMP Securities.
CEO Sally Daub said the newly capitalized company is ready for the next stage of its more than decade-long life.
“Listing on the TSX will be a major milestone in the history of our company, which was founded 12 years ago to challenge traditional approaches to semiconductor SoC development,” said Sally Daub, president and chief executive officer of ViXS. “Since then, we have shipped over 27 million chip sets, developed an enviable client base and built a strong reputation for innovation. Our strong financial position and the public listing position us well to pursue our objective to be the leading provider of media-processing solutions that enable the delivery of digital content anywhere, any time, on any device.”
Toronto-based ViXS Systems is a semiconductor company that has 390 video processing patents issued or pending. The company serves the consumer electronic and personal computer spaces. ViXS delivers compression, encoding and transcoding technologies to multinationals such as Sharp, for their Sharp AQUOS Blu-Ray recorders, and to Pioneer, for its HDD/BD recorders.
The management team of ViXS will ring the opening bell at the Toronto Stock Exchange on Wednesday, July 17.