Feeds

Plasmon takeover talks fail

Looking for investors

Security for virtualized datacentres

The talks between Plasmon and a private equity firm trying to take over the business have terminated. Plasmon's shares have been temporarily suspended on the London stock exchange.

Plasmon sells archive systems which include archive software, disk storage, and optical disk drive storage. It has an agreement with NetApp regarding disk storage and has just announced a relationship with IBM in which Plasmon’s UDO Archive Appliance is being combined with IBM’s Hot Site Recovery Service. File Net P8 customers get the features of archival disk and optical media in a single system.

At the beginning of September, Plasmon's board decided it could no longer fund the business which was seeking fresh working capital in the face of a sales slowdown. It recommended a takeover approach from a US-based private equity firm to shareholders.

For the firm, CEO Steven Murphy said it was business as usual while this investment possibility was being followed up. However, a statement today "confirms that these discussions have terminated. In the circumstances, Plasmon has requested, and the FSA (Financial Services Authority) has confirmed, an immediate suspension of the listing of the ordinary shares of the Company on the Official List of the FSA."

It is understood that discussions with other potential investors are ongoing and talks are moving forwards. Plasmon staff are said to be "extremely positive about the opportunities that are there." Obviously, things are extremely fluid in the financial area given the situation facing banks, investment houses, and so forth. One commentator said wryly that it is not the best time to be looking for refinancing. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
It's Big, it's Blue... it's simply FABLESS! IBM's chip-free future
Or why the reversal of globalisation ain't gonna 'appen
IBM storage revenues sink: 'We are disappointed,' says CEO
Time to put the storage biz up for sale?
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
Microsoft and Dell’s cloud in a box: Instant Azure for the data centre
A less painful way to run Microsoft’s private cloud
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
Windows 10: Forget Cloudobile, put Security and Privacy First
But - dammit - It would be insane to say 'don't collect, because NSA'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
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.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.