* Good news from storage companies’ finances
In the financial news of storage companies last week several news items made the list. IBM acquired database archiving and classification vendor Princeton Softech. Isilon, which went public in 2006, lost money, but the amount was less than previous losses. Data Domain announced its IPO. ONstor announced it may go public. And, Qlusters announced an investment from Network Appliance.
IBM announced last Friday that it would acquire Princeton Softech for an undisclosed amount. With the deal, IBM will add Princeton Softech’s database archiving, classification and archiving software to its Information Management Software division. Princeton Softech’s software is known for its ability to manage structured database data. In this field, few other vendors exist. Among them are OuterBay, which was acquired by HP last year, and Solix Technologies.
Isilon Systems, which filed for its IPO in the fall of last year, reported a quarterly loss of $3.6 million on revenue that increased 87% to $25.1 million. The loss was a 65% improvement on its $5.5 million loss in Q2 2006.
Data Domain reported its first results as a public company with a loss of $1.2 million. The company, which focuses on de-duplication of data, went public in April of this year. Net revenue reported for the second quarter was $26.5 million.
ONstor, a vendor of clustered network-attached storage, grabbed $27 million in mezzanine funding from ComVentures, Foundation Capital, the Mayfield Fund, Sand Hill Capital and WorldView Technology Partners, bringing its total funding to $100 million. The company will use the money to prepare for its IPO in the next year. ONstor has 115 employees and will add 40 people in the next year in sales and marketing and engineering.
Finally, underpinning the importance of virtualization and provisioning, Qlusters announced investment by Network Appliance. The addition Series C funding comes from NetApp, Benchmark Capital, Israel Seed Partners, Duff Ackerman & Goodrich and Charles River Ventures. The company has received over $33 million in funding since it was founded in 2001.
