Storage vendors want to cash in with IPOs

Storage vendors are hoping to cash in on the recent public outing made by VMWare on the stock market.
Earlier this month the virtualisation giant, owned by EMC, went for an initial public offering (IPO). On the first day of trading it gave the firm a market cap of about $19bn (£9.6bn).

Utility storage vendor 3Par has filed a registration statement with the US Securities and Exchange Commission (SEC) for a proposed IPO. The vendor, which recently united with Network Appliance to challenge EMC, is looking to raise about $100m. The number of shares to be offered and the price range for the offering have not been determined.

Read at VNUnet.