Feeds

Filer maker BlueArc refiles for IPO

One hundred meeellion dollars wanted

Choosing a cloud hosting partner with confidence

Filer maker BlueArc has refiled for an IPO and wants to raise a hundred million bucks.

It first filed for an IPO in 2007, looking for just over $100m, but the recession struck and market conditions stopped it.

BlueArc was founded in 1998, and is on the cusp of becoming somewhat long in the tooth for a start-up. It sells hardware-accelerated filers to business and has a reselling deal with Hitachi Data Systems.

The company says it has more than 750 customers who have bought more than 2,000 systems.

The company has not made a profit for the past eight years, making a loss of $9.4m on revenues of $85.6m in the year ending 29 January 2011. However it claimed it had record revenues in the fourth quarter of that year and made a profit for the first time in its history. There was a loss of $15.7m in the preceding year.

It is not forecasting when it will be profitable, nor is it proposing to pay a dividend, and investors will be buying the shares to gamble on their growth.

The IPO income will be used for product range expansion, research and development, and working capital. It needs the cash because it makes hardware and has to develop its field-programmable gate arrays (FPGA) to keep its filer's scalability and I/O responsiveness ahead of the competition such as EMC and NetApp.

The company is also working on using Permabit's Albireo deduplication technology, said not to impact its host system's I/O performance.

The competitive environment has become harsher for BlueArc as there are other ways to accelerate filer I/O and increase scalability.

Isilon, recently bought by EMC, and Panasas, for example, cluster filer nodes together using a fast interconnect and have targeted high-performance computing (HPC) and video processing-type applications. Avere and Alacritech front-end filers with multi-tiered accelerator appliances featuring solid state storage, and SolidAccess provides flash-based filers.

The HPC-style of computing is spreading into mainstream enterprise IT as big data applications develop, storing and analysing vast growing silos of unstructured data. The need for sheer filer I/O speed is looking to become met by flash storage, and it is possible that BlueArc has to respond to that.

Were it not for the downturn it is likely that BlueArc would now be trading as a public company. As it is BlueArc has not yet achieved escape velocity to free itself from its venture capital backers.

This IPO sees it being trundled out to the launchpad for a second attempt. Let's hope the market weather forecast is better than in 2007. ®

Remote control for virtualized desktops

More from The Register

next story
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
NASA launches new climate model at SC14
75 days of supercomputing later ...
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
DEATH by COMMENTS: WordPress XSS vuln is BIGGEST for YEARS
Trio of XSS turns attackers into admins
Cloud unicorns are extinct so DiData cloud mess was YOUR fault
Applications need to be built to handle TITSUP incidents
BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?
Don't worry about that cable, it's part of the config
Stop the IoT revolution! We need to figure out packet sizes first
Researchers test 802.15.4 and find we know nuh-think! about large scale sensor network ops
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.