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A123 Readies IPO

A123Systems, a Watertown, Mass.-based maker of lithium-ion batteries, has selected Goldman, JPMorgan and Merrill as bankers for its IPO, according to Scott Kirsner. The company is waiting to file the S-1 until its Q1 financials are finalized. At that point, expect a September road show and a valuation that could top $1 billion.

A123 has raised over  $132 million in total funding. Backers include General Electric, Procter & Gamble, Alliance Capital, Motorola, Qualcomm, North Bridge Venture Partners, Sequoia Capital, CMEA Ventures, FA Technology Ventures, OnPoint, Carruth Management, the Massachusetts Institute of Technology and board chairman Desh Deshpande.