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Violin Memory Is Said to Pick From Among Four Banks to Lead IPO

Violin Memory Inc., the maker of flash memory for data centers, is close to picking banks for its initial public offering and will choose from amid JPMorgan Chase & Co. (JPM), Deutsche Bank AG (DBK), Barclays Plc (BARC) and Bank of America Corp. (BAC) for the lead spot, a person familiar with the matter said.

The Mountain View, California-based company will probably file its IPO prospectus soon, and start trading in the third quarter, said the person, who declined to be named because the discussions are private.

Violin Memory raised $50 million in a private funding round last week at a valuation of more than $800 million, almost double its value in a June financing. The company said in an April 2 statement that some of the world’s largest businesses are adopting Violin’s type of memory, which retains data even when it’s away from a power supply.

Barbara Bates, a spokeswoman for Violin, said the company isn’t commenting on rumors about bankers. Liz Seymour, a spokeswoman for JPMorgan, John Yiannacopoulos, a spokesman for Bank of America, and Mark Lane, a spokesman for Barclays, declined to comment. A representative of Deutsche Bank didn’t immediately respond to a request for comment.

Violin Chief Executive Officer Don Basile joined the company three years ago from Fusion-io (FIO) Inc., another maker of flash-memory technology. Fusion-io went public in June and has since gained 40 percent for a stock market value of $2.4 billion.

SAP AG’s venture arm led Violin’s most recent financing and was joined by strategic investors Toshiba Corp. (6502) and Juniper Networks Inc. (JNPR) as well as venture firm Highland Capital Partners.

To contact the reporters on this story: Serena Saitto in New York at ssaitto@bloomberg.net; Ari Levy in San Francisco at alevy5@bloomberg.net

To contact the editors responsible for this story: Jennifer Sondag at jsondag@bloomberg.net; Tom Giles at tgiles5@bloomberg.net

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