Violin Memory raised $162 million in an initial public offering (IPO) of 18 million shares priced at $9 on Friday.
Trading of VMEM on the NYSE closed at $7.02, down 22% for the day.
Violin Memory, which was founded in 2005 and is based in Santa Clara, California, specializes in flash memory arrays for enterprise data centers.
http://www.violin-memory.com/
Earlier this month, Violin Memory released a Memory Services software suite for acceleration, tiering, migration and protection of application data in the enterprise data center.
The Violin Maestro suite of Memory Services, which runs on memory-optimized, hardware-accelerated Violin Memory Appliances, provides non-disruptive migration of data off legacy storage to high performance Violin Memory Arrays. The company said its software transparently learns application I/O patterns and accelerates performance. The software provides dynamic tiering of application data between Memory Tier and disk storage.
