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Floating storage specialist names price

Data Domain debuts today

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Network storage and disk backup company Data Domain has announced pricing for its Initial Public Offering.

Shares start trading later today on Nasdaq. The price is $15 a share - higher than expected.

Data Domain is offering 7.39m shares - seven million from Data Domain and 390, 000 by a shareholder. The company should raise about $94.2m from the sale.

The company was founded in 2001 and claims 750 enterprise customers. Goldman Sachs and Morgan Stanley acted as advisors.

Press release is here.®

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