Ann Arbor has had its fair share of big company sales and public offerings but not all of them have stuck around. Barracuda Networks, whose public debut brought in an impressive $75 million at the close of the bell, has decided that A2 makes a very nice home, thank you very much. And they're planning to double down their staff.
"Firewall and data storage company Barracuda Networks made its public debut this morning on the New York Stock Exchange, raising $74 million, at an opening price of $18 per share.
Investors immediately pushed the stock — trading under the ticker symbol CUDA — to more than $23 per share, though the price settled to $21.55 as the market closed.
The 10-year-old company's IPO follows network security company FireEye's sizzling IPO in late September. It's the latest affirmation of Wall Street's continuing love affair with technologies designed to help the good guys slow down data thieves, cyberspies and hacktivists."
To read about their hiring plans click here