The Channel logo

News

By | Paul Kunert 9th December 2011 16:29

Integrator GlassHouse kicks IPO plans into touch again

'Volatile' economic conditions ground 2nd takeoff attempt

GlassHouseTechnologies has for the second time shelved plans for an initial public offering (IPO) in the US due to the uncertain economic outlook.

The virtualisation, security and data centre integrator will withdraw its registration statement on Form S-1 filed with the SEC in 2010, it had been seeking to raise $75m.

“Obviously the economic climate continues to be volatile, and we feel these are not the optimal conditions for GlassHouse to move forward with an IPO,” said GlassHouse Tech boss Patrick Scannell Jr.

He added: “We are focused on being the leader in vendor independent services that provide strategy and operational support for our customers as they confront rapidly evolving end-user, cost and security demands on their IT environments.”

The integrator previously filed IPO papers in late 2007 as it looked to raise $100m but the cold winds of recession scuppered those plans too. ®

comment icon Read 2 comments on this article alert Send corrections

Opinion

Tim Worstall

Or why the reversal of globalisation ain't gonna 'appen
The full Spanglish breakfast: mealy pudding, bacon, black pudding, sausages, fried egg, toast
Blood image

Trevor Pott

Can the storage giant overcome a lack of necessary leadership?

Chris Mellor

Why overlapping kit from a merger equals a disaster in waiting

Features

No, silly... he was the fall guy for years of Finnish folly
Fraud image
Frodo and the Ring
Microsoft's strategy is to make Store apps popular. Good luck with that