SurfControl gets an offer
Print storyReady to wave goodbye to independence?
Posted in Financial News, 7th December 2006 16:35 GMT
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SurfControl, the censorware firm, revealed today it had received a preliminary approach from a potential suitor.
The Congleton, Cheshire-based firm said the pass may or may not lead to an offer, and was subject to "a number of pre-conditions".
While SurfControl's board is considering its response to the potential suitor, it also claims to be considering other strategic offerings. This could be translated as "we're playing hard to get but will do more than bat our eyelids for the right money".
SurfControl's most recent results showed revenues of $29m in its first fiscal quarter, up 23 per cent, but pre-tax losses were $1.6m, compared to a $200,000 loss the previous year.
Former Sun VP Patricia Sueltz joined the firm as CEO last year. Given her Silicon Valley background it was inevitable the firm would consider going the way of so many other niche players and tout itself for absorption by a bigger player. ®
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