Tech Dealmaker Awards

Saxena

Data warehouse appliance provider Netezza Corp. closed last summer on its initial offering of common stock, raising $115.5 million in net proceeds when all was said and done. With 10.35 million shares up for grabs, and including 1.35 million shares representing the over-allotment option granted to the underwriters, Netezza brought in gross proceeds of $124.2 million, before commissions and expenses, and net proceeds before expenses of $115.5 million.

Marlborough-based Netezza went public in July 2007, five years after launching its first product, because the company was at a point in its growth where it made sense to take the company “out of the startup strata and into the realm of larger, successful and established companies,” said Jit Saxena, chairman and CEO.

“Our competitors are large public companies and, by going public, we made it easier for our customers to better understand our business,” Saxena said.

Netezza’s data warehousing products combine storage, processing, database and analytics into a single system that delivers 10 to 100 times the performance, at half the cost and one-third the power consumption of other data warehousing approaches, according to Saxena. Current customers include Amazon.com, Burlington Coat Factory, Neiman Marcus, Virgin Media and many others.

“By going public, Netezza has firmly established data warehouse appliances as a mainstream and established product, with broad applicability,” Saxena said.

— Bridget Botelho

Category

Initial Public Offering

The Deal

Netezza Corp. announced its initial public offering of 10.35 million shares of its common stock July 24, 2007

Key Executives

Netezza chairman and CEO Jit Saxena; Jim Baum, president and COO; and Pat Scannell, senior vice president and CFO

Deal advisers

Wilmer Hale (legal), Goodwin Procter LLP and PricewaterhouseCoopers

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• Gold Sponsors: Capital Source
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  Preston Productions
  Trinity Communications

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