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Netezza and BladeLogic go public

si Team
Thursday, August 2, 2007
si Team
Framingham based Netezza, a global data warehouse appliance developer, went public on July 19 2007 with an initial public offering of 9,000,000 shares of its common stock at a price of $12 per share. On its debut the shares skyrocketed 45 percent to $17.39.

With offices in Washington, DC, the U.K. and Asia Pacific, the company has Acxiom Corporation, Amazon.com, Cingular Wireless, CNET Networks, Epsilon, Neiman Marcus and Orange UK as some of its customers. The company faces a big market opportunity. According to IDC, the data warehouse management software segment was $4 billion in 2005, and it’s expected to grow to $6.3 billion by 2010.

Netezza’s revenue surged 48 percent to $79.6 million in 2006. Though the company faced a loss of $7.9 million, it was however an improvement from its $13.8 million loss in 2005. On July 24 2007, it closed the sale of 10,350,000 shares of its common stock, including 1,350,000 shares of common stock representing the over-allotment option granted to the underwriters, resulting in gross proceeds of $124.2 million. Jit Saxena, CEO and Foster D. Hinshaw, CTO founded Netezza in 2000.

A day later BladeLogic, an automation software firm announced its initial public offering of 5,000,000 shares of common stock, at a price of $17.00 per share on July 25 2007. The shares were listed on the Nasdaq Global Market under the symbol “BLOG”.

Of the 5,000,000 shares being offered, the company will sell 3,940,000 shares and 1,060,000 shares will be sold by selling stockholders. The underwriters have an option to purchase up to an additional 750,000 shares from the company at the initial public offering price less the underwriting discount. The company will not receive any proceeds from the sale of shares by the selling stockholders.

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