Ikanos launches public offering - Yahoo! News

The company raised $69 million in its initial public offering of stock, which was somewhat well received on Wall Street in spite of a slow market for new tech offerings. Ikanos shares started trading at $12 a share and rose as high as $14.25 during the day, but fell back to $13 by the close of trading.

Now the competition is heating up for a second version of the chip, dubbed VDSL2, which can transfer data at high speeds over longer distances than VDSL1 chips. Chip makers such as Germany's Infineon, Texas Instruments, Conexant Systems and Broadcom plan to challenge Ikanos, as do smaller players such as Metalink and Centillium Communications. Japan, Germany and France are in the adoption stage now. But the VDSL chip makers have to wait for the phone companies to mobilize in the United States.

``We are seeing the interest growing in all markets worldwide,'' said Imran Hajimusa, senior director of marketing at Infineon in San Jose. ``But overall, it's a tough market because there are a lot of competitors.''

[Yahoo]

Lots of risk around Ikanos.

From their S-1 filing:

Sales to NEC Corporation (Magnus), Sumitomo Electric Industries, Ltd., Dasan Networks, Inc. and Millinet Co., Ltd., our four largest OEM customers, accounted for 95.0% of our net revenue for the six months ended June 30, 2005. In addition, sales in Asia accounted for 97.2% of our net revenue for the six months ended June 30, 2005.