Thursday, May 6, 2010

Telegent Systems Drops IPO

Sunnyvale-based Telegent Systems said in a filing with the SEC Thursday that it is looking to withdraw its IPO plans. The firm--which originally filed for an IPO on November 23rd--said that the benefits of being publicly traded "are not sufficiently attractive" for the firm. Telegent's IPO was being underwritten by Goldman, Sachs & Co., J.P. Morgan, Jefferies & Company, Oppenheimer & Co., and Piper Jaffray. The firm is venture backed by New Enterprise Associates, Walden International, Index Ventures, and others.