Inside Secure preps for IPO - Reuters

Inside Secure preps for IPO - Reuters

French NFC specialist Inside Secure is looking to raise up to EUR100 million through an initial public offering, reports Reuters, citing 'people familiar with the matter'.

The chipmaker, which is hoping to benefit from a boom in mobile phone based NFC applications, has hired BNP Paribas and Jefferies to prepare for a listing, sources told Reuters, confirming earlier reports in Les Echos.

Privately-held Inside Secure currently claims 14 backers, including European venture capital firms GIMV and Sofinnova, US chipmaker Qualcomm Inc, Visa, and investment vehicles backed by Nokia and Samsung.

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