Feeds

MessageLabs mulls float as economy sinks

Says Saas bucking market

Choosing a cloud hosting partner with confidence

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.