Nexsan, which provides disk-based storage systems for mid-sized businesses and enterprises, postponed its IPO on Friday citing poor market conditions. The news comes two days after close peer Compellent (CML) preannounced a disappointing first quarter, driving its stock down 26%. Nexsan was founded in 2000 and booked $62.7 million in sales for the 12 months ended 12/31/09. Thomas Weisel was set to be the bookrunner on the deal.
