A chip off the old block: congatec files for a $60 million IPO

congatec, a designer and developer of high-performance embedded computing solutions, filed on Wednesday with the SEC to raise up to $60 million in an initial public offering.

The Washington, D.C.-based company, which was founded in 2004 and booked $92 million in sales for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol CONG. congatec initially filed confidentially on August 12, 2015. Stifel, Needham, Canaccord Genuity and JMP Securities are the joint bookrunners on the deal. No pricing terms were disclosed.