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By | John Oates 27th June 2007 14:18

Floating storage specialist names price

Data Domain debuts today

Network storage and disk backup company Data Domain has announced pricing for its Initial Public Offering.

Shares start trading later today on Nasdaq. The price is $15 a share - higher than expected.

Data Domain is offering 7.39m shares - seven million from Data Domain and 390, 000 by a shareholder. The company should raise about $94.2m from the sale.

The company was founded in 2001 and claims 750 enterprise customers. Goldman Sachs and Morgan Stanley acted as advisors.

Press release is here.®

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