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

frustration_anger_irritation_annoyance pain

Felipe Costa

Pressure to perform for stock market bearing down on disties
Columns of coins in the cloud

Michael Cote

Anything that simple to use has got to be complex to set up
Internet of Things

Gavin Clarke

This time, Larry's Oracle is going after the networking giants

Features

No email? No CRM? No Daily Mail iPad edition? You need a plan
Sinofsky's hybrid strategy looks dafter than ever
Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club