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Wednesday, September 06, 2006

IPO Filing Alert: Isilon

Isilon Systems Inc. has filed with the SEC for an IPO. Isilon is a Seattle-based provider of clustered storage solutions designed for data-intensive businesses and clustered computing environments, such as those found in oil and gas, media and entertainment, Internet services, manufacturing, life sciences, and government, which all produce, analyze or distribute large amounts of digital content, unstructured data and file-based information. it claims companies such as NBC Olympics, MySpace, Pratt & Whitney, Kodak EasyShare Gallery, GlobeXplorer, Technicolor, Movielink, and E! Networks that it helps to meet the demands of expanding storage environments and workflow acceleration.

The company has filed to raise $86.25 million via sales of it common stock and it plans to trade on the Nasdaq under ticker symbol "ISLN." Morgan Stanley, Merrill Lynch and RBC Capital Markets serving as co-lead underwriters. The company has raised around $68 million in total VC funding from firms like Atlas Venture, Madrona Venture Group, Lehman Brothers, and Sequoia.

We will post financial details from the initial filing as the deal gets closer, but it has been said to be one of the ones in storage to watch according to past pre-IPO screenings of private companies on future IPO and merger radars.

Jon C. Ogg
September 6, 2006

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