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MEMS timing device maker SiTime files to go public to raise $100 million

SiTime, a market leader in MEMS timing devices, announced last week that it has publicly filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its common stock. SiTime had revenues of $101 million in 2017 and $85 million in 2018. For the nine months ended on September 30, 2019, the company reported revenues of $56 million, compared to $62 million for the same period in 2018. Barclays and Stifel are acting as book-running managers for the proposed offering. Needham & Company, Raymond James, and Roth Capital Partners are acting as co-managers for the proposed offering. The number of shares to be offered and the price range for the offering have not yet been determined. SiTime has applied to list its common stock on Nasdaq under the ticker symbol "SITM".

Rakon enters MEMS based oscillator market

Rakon, a New Zealand based provider of frequency control solutions, announced this week that MEMS technology is being utilized to develop new products to further broaden the company's oscillator product portfolio and capabilities.  Rakon's Managing Director, Brent Robinson says the company has looked into the technology for many years and the timing is now right to further diversify its offering to include MEMS based oscillators.

MEMS oscillator maker SiTime receives investment from Knowles and Vectron

Knowles Electronics and Vectron International, both owned by Dover Corporation, announced this week that they have entered into a strategic partnership with SiTime Corporation.  The partnership, which includes a cash investment by Knowles and Vectron, brings together three companies with the goal of driving "unprecedented growth" of MEMS timing components within the $4 billion frequency control products market.