Cloud Player Drops IPO Plans
December 6, 2011
Grazed from Sys Con Media. Author: Maureen O’Gara.
Spooked by the "volatile economic climate" and "current market conditions," GlassHouse Technologies, which provides cloud, virtualization, security and next-generation data center consulting and managed services, has dropped its plans to IPO.
It said it would withdraw the registration statement that it filed with the SEC last year thinking it could raise $75 million.
It’ll be the second time GlassHouse has scrubbed an IPO. It wanted to raise $100 million in 2007 but pulled those papers two years later because of market conditions too.
The 10-year-old Pennsylvania company has raised close to $87 million over five rounds from VCs, according to CrunchBase, including not insignificant contributions from Cisco and Citrix…