Data storage software maker Nexenta looks at 2015 IPO

Nexenta Systems Inc, a data storage software maker, said it plans to go public by the end of 2015 as it looks to cash in on investors' appetite for companies that help businesses cut costs. Nexenta makes open source-based \"software-defined storage\", which a client uses to save data on hardware from other vendors, thereby avoiding costly 'package deals' that require buying hardware and software from the same vendor such as NetApp Inc or EMC Corp. The demand for its expertise has helped double Nexenta's annual revenue in the last three years and the nine-year old company is expected to post a profit as early as end of this year, Chief Executive Tarkan Maner told Reuters. The spending on storage management software is expected to rise to about $22 billion in 2017 from $16 billion in 2013 - a growth rate of about 37 percent, which outstrips the expected 28 percent growth in overall enterprise software spending for the same period, according to research firm Gartner.



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