Memec Files For Long-Awaited IPO

Memec Inc., a global supply-chain management company and distributor of semiconductors, filed a long-awaited initial public offering this week with the Securities and Exchange Commission. The $1.7 billion company has more than 2,400 employees worldwide, including 1,800 field application engineers and technical sales and marketing staff who are trained to help original equipment makers in product design, improving product time to market, and lowering costs.

Memec also assists semiconductor companies such as Actel, Texas Instruments, and Xilinx manage supply-chain activity by holding and shipping product for original equipment makers to their customers' electronic manufacturing service outsourcing partners, which build finished products.

CS First Boston, Deutsche Bank Securities, Merrill Lynch & Co., J.P. Morgan, and Goldman Sachs have been selected to manage the deal. Terms and timing of the IPO haven't been determined.