Feeds

Fusion-io files for IPO

Cashing in on the flash boom

Application security programs and practises

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. ®

Eight steps to building an HP BladeSystem

More from The Register

next story
Sysadmin Day 2014: Quick, there's still time to get the beers in
He walked over the broken glass, killed the thugs... and er... reconnected the cables*
SHOCK and AWS: The fall of Amazon's deflationary cloud
Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
BlackBerry: Toss the server, mate... BES is in the CLOUD now
BlackBerry Enterprise Services takes aim at SMEs - but there's a catch
The triumph of VVOL: Everyone's jumping into bed with VMware
'Bandwagon'? Yes, we're on it and so what, say big dogs
Carbon tax repeal won't see data centre operators cut prices
Rackspace says electricity isn't a major cost, Equinix promises 'no levy'
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
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.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.