Tuesday, September 5, 2006

Isilon Files For An IPO

Seattle-based Isilon Systems filed for an IPO Friday, saying that it is looking to raise up $86.25M on the Nasdaq as ISLN. Isilon is a supplier of clustered storage systems used for enterprise data storage. The firm reported that it had a loss of $19.1M on revenues of $21.0M for the year ended January 1, 2006. Isilon is backed by Altas Ventures, Sequoia Capital, Madrona Venture Group, and Lehman Bros. The IPO is being underwritten by Morgan Stanley, Merrill Lynch & Co., RBC Capital Markets and Needham & Company.