EqualLogic has reason for an IPO

With the explosion of data in corporate America, there's a big need for intelligent storage systems. In fact, there are other key drivers, such as the increase in security threats as well as the emergence of server virtualization. But, of course, companies don't want to spend a ton of money on this technology, right?

Well, EqualLogic is attacking these issues.

And, now the company has filed to go public.

Founded in 2001, EqualLogic is the developer of high-performance storage products – and is focused on the mid-sized enterprise market (which is a sector that is certainly price sensitive).

Basically, the company's products have the same kind of capabilities of more advanced systems. What's more, it's easy to add systems without downtime, which allows for a "pay-as-they-grow" business model.

The company more than 2,500 customers (across 30 countries). From 2004 to 2006, revenues surged from $30 million to $68.1 million.

Although, EqualLogic does face tough competition. Some of the rivals include EMC (NYSE: EMC), Dell I(NYSE: DELL), and IBM (NYSE: IBM).

The lead underwriters on the IPO include Goldman Sachs (NYSE: GS) and Credit Suisse (NYSE: CS). The proposed ticker symbol is "EQLX."

You can find the prospectus at the SEC website. Also, if you want to check out more IPO filings, click here.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.