Feeds

Fusion-io files for IPO

Cashing in on the flash boom

Designing a Defense for Mobile Applications

Privately-owned solid state storage vendor Fusion-io has filed for an initial public offering (IPO), hoping to cash in on the booming flash market.

There are no details at all at the moment, other than that a filing with the SEC has been made with a notional $150m target.

Goldman Sachs and Morgan Stanley are acting as lead active joint book-runners for the proposed offering, and JP Morgan Securities and Credit Suisse Securities are acting as passive joint book-runners.

Sounds like a horse race: the Fusion-io stakes. If you fancy a flutter you will have to wait. The prospectus isn't available, the number of shares to be offered isn't available, the price range hasn't been determined ... All-in-all it looks like an awfully large amount of market finger-dipping is going to be done to assess investors' interest levels.

Why should anyone be interested in Fusion-io, the first of the SSD start-ups after STEC to come to the market? It has developed a line of PCI-e bus-connected flash storage that accelerates server storage I/O using its ioDrive technology. There have been a number of glamorous million IOPS demonstrations with IBM, HP and others; the most recent a 1.4 million IOPS demo with SuperMicro.

Another big win on the glamour front was the recruiting of The Woz, Apple co-founder Steve Wozniak, as its chief scientist. Fusion-io has scored Dell as an OEM and Michael Dell is an investor in the company – racking up another glamour point. Other OEMs include both HP and IBM.

The ioDrive technology uses both single level cell and multi-level cell flash. Samsung, the world number one flash fabrication owner and NAND chip supplier has invested in Fusion-io. The founders are still with the company. In fact, co-founder David Flynn is the current CEO after a flirtation with an outside CEO – Don Basile, who was forced out and now runs competitor Violin Memory.

Partners such as DataCore provide front-end software for a server fitted with ioDrives that turn it into a networked and sharable flash storage resource.

Customers such as Facebook lend additional credibility.

Competitors are entering the PCIe flash market, such as Seagate – which has a chip and controller co-operation deal with Samsung – and LSI. You could crudely sum up Fusion's situation as solid technology, solid marketing, three blue-chip OEMS, solid investors, glamour customers, and looming solid competition piling in.

Still interested? You can get a prospectus when it is written from the two lead bookies above; send mail to prospectus-ny@ny.email.gs.com or prospectus@morganstanley.com. ®

The Power of One eBook: Top reasons to choose HP BladeSystem

More from The Register

next story
Apple fanbois SCREAM as update BRICKS their Macbook Airs
Ragegasm spills over as firmware upgrade kills machines
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Attack of the clones: Oracle's latest Red Hat Linux lookalike arrives
Oracle's Linux boss says Larry's Linux isn't just for Oracle apps anymore
THUD! WD plonks down SIX TERABYTE 'consumer NAS' fatboy
Now that's a LOT of porn or pirated movies. Or, you know, other consumer stuff
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.