Yesterday, Nutanix announced that it had filed Form S-1 with the US Securities and Exchange Commission (SEC). Form S-1 is what companies use to proposed creating an Initial Public Offering (IPO) of publicly-traded shares of stock.
Nutanix intends to list its Class A Common Stock under the ticker symbol “NTNX”. The number of shares to be offered or their initial price point hasn’t been determined yet, but Nutanix says that they aim to sell a maximum of $200 Million in shares of stock. The deal is being underwritten by Goldman Sachs, Morgan Stanley, JP Morgan, and Credit Suisse.
Nutanix makes a hyperconverged infrastructure appliance. They have OEM partnership deals with both Dell and Lenovo.
Nutanix is most often seen as a competitor to SimpliVity, but they try to paint themselves in a different light. In the filing, Nutanix positions itself as competing with traditional storage vendors and specifically lists EMC, NetApp, and Hitachi Data Systems. Nutanix also calls out VMware as a competitor. You can read the full text of the SEC filing here.
During their most recent fiscal year, Nutanix registered $241 Million in revenue with a net $126 Million loss.
It will be interesting to see if the market is ready to get behind hyperconvergence.
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