News Article

IPO-bound Actifio hires former Acme Packet CFO

August 5, 2013

Waltham data storage technology firm Actifio said Monday it’s hired Peter Minihane, formerly chief financial officer ofAcme Packet, as its new CFO.

The hire comes as Actifio continues to eye going public; founder and CEO Ash Ashutosh said earlier this year that the firm may file its IPO plans as soon as 2014.

BostonBusinessJournal_LogoMinihane was previously CFO and treasurer of Bedford-based Acme Packet, a public company which was acquired by Oracle in February for $2.1 billion. Minihane had joined Acme Packet in 2008, two years after the company’s IPO.

Actifio’s software-as-a-service aims to cut data management costs by up to 90 percent while also simplifying the process involved. The service by drastically reduces the number of copies of data that need to be made, while ensuring the data is still accessible and protected.

The firm has raised $107 million in venture capital since its founding in 2009, including a $50 million round in March that valued the company at $500 million. Investors include Andreessen Horowitz, Technology Crossover Ventures, North Bridge Venture Partners, Greylock Partners and Advanced Technology Ventures.

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