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Financials dominate data storage news

SearchStorage.com Editors
Weekly compilation of storage news

Compellent files S-1, preps for IPO
Compellent is the latest storage startup to jump on the IPO bandwagon. The company filed its S-1 statement with the SEC this week. According to the S-1, Compellent's revenues are up from just under $10 million in 2005 to $23.3 million in 2006. Revenues for the first quarter of 2007 were $8.9 million, compared to $3.3 million in the same period last year. The document did not set out any IPO pricing, or the number of shares to be offered. It did reveal that the company expects to go public in the third quarter of this year.

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Other news this week:
U.K. enterprise search provider buys Zantaz

Data storage startups emerge from stealth
In a related note, Data Domain Inc. announced that it has closed on its initial public offering of 7,390,000 shares of common stock at a price of $15.00 per share. Of the shares sold in the offering, 7,000,000 were sold by Data Domain and 390,000 were sold by a selling stockholder. Data Domain also announced that the underwriters of the offering exercised in full their option to purchase an additional 1,108,500 shares of common stock from the company -- bringing the total net proceeds to the company to approximately $109 million.

In more financial news, InfiniBand chip company Mellanox Technologies Ltd. has obtained approval to list its ordinary shares for trading on the Tel-Aviv Stock Exchange (TASE). Trading on TASE will commence on July 9 under the symbol MLNX. Mellanox shares will continue to be listed and traded on the Nasdaq under the same ticker symbol.

And finally, Brocade announced that the company's stock ticker symbol has returned to BRCD, effective immediately. A fifth character (D) was apparently added to Brocade's stock ticker symbol on June 27, 2007, as required by the Nasdaq Stock Market, following the completion of a reverse/forward stock split as previously announced by the company. The additional character was scheduled by Nasdaq to remain appended to Brocade's ticker symbol for up to 20 trading days. Nasdaq has now removed the fifth character (D) so that investors can recognize Brocade again. [Ed note: Phew! We were worried there for a second.]

Crossroads buys HSM agent from Grau
Crossroads Systems Inc. has acquired Germany-based Grau Data Storage's FileMigrator Agent, a hierarchical storage management (HSM) product. FileMigrator Agent (FMA) launched a year ago, has generated more than $750,000 in revenue and was acquired by Crossroads for less than $1 million in cash, the company said.

Isilon goes to Ireland
Clustered storage upstart, Isilon Systems has partnered with Tyrell:CCT to begin delivering its Isilon IQ clustered storage systems and software to the Irish marketplace. Tyrell:CCT is Isilon's first reseller in Ireland and major reseller to the broadcast and post production sectors, with clients including RTE, Setanta Sports and TV3.

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