Double-Take Software Plans to Raise Around $77 Million in IPO - Southborough, MA
Double-Take Software, a Southborough-based developer of data protection software, has filed with the Securities and Exchange Commission indicating that it plans to price its planned initial public offering of 7.7 million shares of common stock at between $9 and $11 a share. At the mid-point of that estimated range, the company would raise a total of $77 million. Double-Take was founded as NSI Software in 1991 and changed its name to Double-Take last July. For the nine months ended in September, the company had revenue of about $41.8 million and a profit of $5 million, compared to $28.9 million in revenue and a loss of $1.2 million for the same period last year.