Tuesday, July 2, 2013

Control4 Files For IPO

Salt Lake City-based Control4 has filed for an IPO, saying that it intends to go public on the NASDAQ Global market as CTRL. The maker of home automation products filed for the IPO on Monday. The firm's IPO is being underwritten by BofA Merrill Lynch, Raymond James, Canaccord Genuity, Cowen and Company, and Needham & Company. Control4 is venture backed by Foundation Capital, which owns 28.5 percent of the firm, as well as Thomas Weisel Venture Partners (16.4%), Signal Peak Ventures (12.7%), Frazier Technology Ventures (12.3%), and Cisco Systems (10.8%). The firm reported a net loss of $3.7M on revenues of $109.5M for the year ended December 31, 2012.