Nexsan Files For IPO

Thousand Oaks-based Nexsan, a provider of enterprise storage arrays, has filed for an IPO, according to a filing with the SEC Friday. Nexsan said it is looking to raise up to $80.5M in an IPO on the NASDAQ Global Market under the symbol "NXSN." The IPO is being underwritten by Thomas Weisel Partners, Lazard Capital market, Needham & Company, and Morgan Keegan & Company. Nexsan reported that it had a loss of $3.0M on revenues of almost $49.8M in its fiscal 2007. The firm is venture backed by VantagePoint Venture Partners, RRE, Gen-e Servicos de Consultoria SA, and others. Nexsan develops storage arrays that use serial ATA (SATA) disk drive and RAID technology, for iSCSI and Fibre Channel storage area networks.