Feeds

Plasmon takeover talks fail

Looking for investors

Beginner's guide to SSL certificates

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
The cloud that goes puff: Seagate Central home NAS woes
4TB of home storage is great, until you wake up to a dead device
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
Want to STUFF Facebook with blatant ADVERTISING? Fine! But you must PAY
Pony up or push off, Zuck tells social marketeers
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Oi, Europe! Tell US feds to GTFO of our servers, say Microsoft and pals
By writing a really angry letter about how it's harming our cloud business, ta
prev story

Whitepapers

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.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
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?
Internet Security Threat Report 2014
An overview and analysis of the year in global threat activity: identify, analyze, and provide commentary on emerging trends in the dynamic threat landscape.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.