Monday, June 11, 2007

Data Domain Sets IPO Terms

Santa Clara-based Data Domain, a developer of high capacity disk-based backup and disaster recovery appliances, said in a filing with the SEC Friday that it will sell 7,000,000 shares of its common stock at what it estimates will be between $11.50 and $13.50. The firm is looking to trade on the Nasdaq Global Market as DDUP. The company's IPO is being underwritten by Goldman, Sachs & Co., Morgan Stanley, Thomas Weisel Partners LLC, and Pacific Crest Securities. The data storage firm is backed by Greylock Partners, New Enterprise Associates, and Sutter Hill Ventures. Quantum Corporation is also a stockholder in the company.