Monday, September 10, 2007

BlueArc Files For IPO

San Jose-based BlueArc, a provider of storage systems for the enterprise market, said Friday in a filing with the SEC that it is looking to raise up to $103.5M in an IPO. The firm is looking to list on either the NASDAQ Global Market or the NYSE. The IPO is being underwritten by Credit Suisse, Lehman Brothers, RBC Capital Markets, Thomas Weisel Partners, and Pacific Crest Securities. The firm is venture backed by Meritech Capital, Crosslink Capital, Morgenthaler Ventures, and others. BlueArc reported a loss of $2.5M on earnings of $15.273M in the three months ended April 30th; according to its IPO filing, it lost $12.7M on revenues of $42.0M for the year ended January 31st.