Sonics Cancels IPO

Sonics Inc., a Mountain View, Calif.-based provider of interconnect solutions that manage on-chip communications in SoCs devices, has withdrawn its registration for an $80 million IPO. It planned to trade on the Nasdaq with UBS serving as lead underwriter. Sonics has raised around $62 million in VC funding from firms like InveStar Capital (16.3% pre-IPO stake), TL Ventures (12.3%), Smart Technology Ventures (11.4%) and Easton Hunt Capital Partners (8.4%). www.sonicsinc.com