Feeds

MessageLabs mulls float as economy sinks

Says Saas bucking market

New hybrid storage solutions

MessageLabs, the utility messaging service, said it is ready for an IPO if and when market conditions improve.

Chief finance officer Stephen Chandler told the Reg: "We've been preparing for an IPO for several years; we've strengthened the board, moved to International Accounting Standards and if the markets improve we'll be ready. But we're in a strong cash position even without such an event." MessageLabs data centres scan emails for malware before sending them to recipients - the firm has 18,000 business customers.

Chandler said in an atmosphere of doom and gloom the UK IT sector seems to be "more resilient than most" and within IT security is performing well - and in that market software as a service providers are doing even better.

Observers like Richard Holway have suggested that a trade buy is a more likely outcome for MessageLabs.

Chandler said: "We obviously can't rule out a trade buy either - we talk to lots of people in the market but our focus is on growing organically - although we had a good first half we had an even better second half."

MessageLabs converted a £5m loss last year into a £5m operating profit this year. ®

New hybrid storage solutions

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.