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Netezza Sets IPO Terms

Netezza Corp., a Framingham, Mass.-based provider of enterprise-class data warehouse appliances, has set its proposed IPO terms to nine million common shares being offered at between $9 and $11 per share. If it prices at the high end of its range, the company would be valued at around $612 million. It plans to trade on the Nasdaq under ticker symbol NTZA, with Credit Suisse and Morgan Stanley serving as co-lead underwriters. Netezza has raised around $83 million in VC funding since its 2000 inception, from firms like Matrix Partners (20.75% pre-IPO stake), Charles River Ventures (19.59%), Battery Ventures (16.82%), Sequoia Capital (15.2%), Meritech Capital Partners (6.8%) and Orange Ventures.