#Tegile Systems Inc., a seller of flash-based data storage products, hired Mike Morgan as chief financial officer, bringing in an executive with experience leading startups through initial public offerings as it plans its own share sale in 18 to 24 months.
The company, which is backed by #Sandisk Corp. and #WesternDigital Corp., has 1,250 customers including the MLB Network and Aer Lingus, and won’t disclose its revenue, said Chief Executive Officer Rohit Kshetrapal. Tegile has seen storage system shipments grow 350 percent in the fiscal year that ends Jan. 31, he said. Morgan, most recently CFO at cloud storage software company Panzura, has previously shepherded two companies through the IPO process. He replaces Ian Edmundson in the CFO role.
Newark, California-based Tegile is trying to take advantage of growing demand for storage systems that rely partly or entirely on flash, the same fast computer memory that’s found in smartphones and tablets. Spending on all-flash systems, which accounts for 35 percent of Tegile’s business, has risen faster than some analysts expected, bolstering similar startups in the industry. #PureStorage Inc. sold shares to the public in October and #NetApp Inc. agreed to buy #SolidFire Inc. for $870 million in December.
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