Seoul, South Korea, Aug 2nd, 2022 --- OPENEDGES Technology, Inc. (hereinafter referred to as OPENEDGES), the memory systems and AI platform IP provider, today confirmed it passed the eligibility examination for initial public offering (IPO) on the KOSDAQ market after only five years of its founding.
To initiate the IPO process in earnest, OPENEDGES is scheduled to review its half-year financial results and file a Securities Registration Statement. Samsung Securities is the IPO underwriter.
OPENEDGES, established in 2017, is a silicon IP provider that delivers design assets necessary for SoC design to semiconductor companies, including fabless, design houses, and foundries. OPENEDGES provides an integrated IP platform that combines the neural processing unit (NPU) and high-performance memory system (interconnect, memory controller, PHY), so each IP is closely integrated to achieve maximum system synergies and efficiencies.
Based on its core technologies, OPENEDGES has been increasing its market share by achieving more than 30 license agreements in global markets and has shown rapid sales growth since last year.
Last January, OPENEDGES was the first to obtain an AA grade in the preliminary technical assessment based on a technicality and business feasibility conducted by NICED&B, a Global Commercial Credit Bureau in South Korea. The company has raised approximately USD 40 million in funding from domestic strategic investors (SI) and financial investors (FI).
"The AI system semiconductor industry is gaining a lot of attention lately," according to Sean Lee, CEO of OPENEDGES. "As our IPs accumulate both silicon and market-proven history, we've been identified as a leading IP provider," and "as a result of our listing on the KOSDAQ in the second half of this year, we aim to lead the semiconductor IP market by accelerating our growth and broadening IP product portfolio."
Learn more about OPENEDGES at www.openedges.com or contact directly at pr@openedges.com