Apache Design Solutions, a US-based provider of semiconductor technology backed by chip maker Intel, plans to raise $75m in its Nasdaq stock exchange flotation.
Intel Capital owns 6.4% of Apache having originally invested in 2001 as part of a marketing agreement. As part of the deal, Apache’s regulatory filing said: "We have agreed, among other things, not to assert our patents against Intel Corporation, and that, under certain circumstances, if we divest or assign any of our patents, then Intel Corporation will be entitled to an irrevocable, worldwide, nonexclusive license to such patents to make or have made Intel Corporation’s products."
Investment bank Deutsche Bank is underwriter.