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Vitria Technology files for IPO

The connectivity software maker says it is offering 3 million shares of its common stock at a price of $16 per share.

Vitria Technology, a maker of connectivity software, today said it has filed an initial public offering.

The Sunnyvale, California-based company said it is offering 3 million shares of its common stock at a price of $16 per share. The company will trade under the symbol "VITR" on Nasdaq.

Lead underwriters Credit Suisse First Boston, Merrill Lynch, BancBoston Robertson Stephens, and SoundView Technology Group have a 30-day option to buy up to 450,000 additional shares from Vitria, the company said.

Vitria, which competes in the enterprise application integration market with companies such as Neon and Crossworlds, developed BusinessWare, software that enables incompatible computer systems to exchange data over corporate networks and the Internet.

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