Wednesday, February 25, 2009

Netezza nabs Tizor Systems

By Mass High Tech staff

Update: According to a regulatory filing, Netezza bought Tizor for $3.1 million -- far less than the $26.6 million investors had put into the Maynard-based company.

Metrowest data management companies Netezza Corp. of Marlborough and Tizor Systems Inc. of Maynard are now one, as Netezza has acquired the data center auditing and protection company for an undisclosed amount.

Privately held Tizor has raised approximately $26.6 million in venture funding, with its last round coming one year ago, worth $8.3 million. Its investors include Hummer Winblad Venture Partners, Longworth Venture Partners, Masthead Venture Partners, Navigator Technology Ventures and Common Angels.

According to the two companies, the purchase will allow Netezza’s enterprise customers to more easily meet regulatory compliance requirements by using Tizor’s tracking and analysis software. Following the close of the deal, Tizor Systems will operate as a subsidiary of Netezza (NYSE: NZ).

Jim Baum, president and CEO of Netezza, said he sees the enterprise data auditing and protection market growing “significantly in the next couple of years.”

Netezza was honored in Mass High Tech and ACG’s Tech DealMaker Awards in December for its initial public offering in July, 2007.

In November, Netezza co-founder and Mass High Tech All-Star in 2007, Jit Saxena, resigned as company CEO but remains on as chairman of the board.

For fiscal 2008, Netezza reported a profit of $2 million on revenue of $126.7 million.