Tech Dealmaker Awards

It was time to grow for Framingham-based analytic software and warehousing appliance maker Netezza Inc. The company had already raised more than $83 million from a syndicate of investors including Matrix Partners, Charles River Ventures and Battery Ventures, all based in Waltham, and California firms Sequoia Capital and Meritech Capital Partners.

However, the company was expanding internationally and was continuing to land new customers such as Amazon.com and Ross Stores Inc. In addition to creating liquidity for the company’s present stakeholders, first and foremost Netezza wanted to go public to place the company in a better position to make strategic acquisitions to grow its technology and distribution.

The company filed for an IPO on March 30, 2007 and closed the offer four months later. When the dust settled, Netezza had raked in $115.5 million before expenses and was trading on the NYSE Arca exchange under the symbol NZ. Netezza closed the offering selling 10,350,000 shares of common stock, 1,350,000 of which were granted to the underwriters as an over-allotment option.

“It’s the team that sits around the table when you go public that makes the difference. You have people who have worked with the company for years and know the company. We all know and trust each other, that’s important,” said Pat Scannell, Netezza’s CFO.

Scannell stated the company plans to use much of the capital gained to acquire new businesses, technology and personnel.

— Stephen Desantis is a freelance writer in Roxbury.

Category

Initial Public Offering

The Deal

Netezza Inc. held an IPO that raised $115.5 million. Company was public as of July 24, 2007.

Key Executives

Jit Saxena, co-founder and CEO; Pat Scannell, senior vice president and CFO.

Deal advisers

Legal: Wilmer Cutler Pickering Hale and Dorr LLP; Goodwin Procter LLP.
Financial: Credit Suisse Securities (USA) LLC; Morgan Stanley & Co.; Needham & Co. LLC; Thomas Weisel Partners LLC.
Auditor: PriceWaterhouseCoopers.

• Platinum Sponsor:
• Gold Sponsors: Capital Source
  Silicon Valley Bank
  TM Capital
  Vitale, Caturano & Co.
• Silver Sponsors: Capital IQ
  Citizens Bank
• Supporting Sponsors: Mass High Tech
  Preston Productions
  Trinity Communications

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