Feeds

Plasmon takeover talks fail

Looking for investors

Next gen security for virtualised 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. ®

Gartner critical capabilities for enterprise endpoint backup

More from The Register

next story
The Return of BSOD: Does ANYONE trust Microsoft patches?
Sysadmins, you're either fighting fires or seen as incompetents now
Microsoft: Azure isn't ready for biz-critical apps … yet
Microsoft will move its own IT to the cloud to avoid $200m server bill
Shoot-em-up: Sony Online Entertainment hit by 'large scale DDoS attack'
Games disrupted as firm struggles to control network
Cutting cancer rates: Data, models and a happy ending?
How surgery might be making cancer prognoses worse
Silicon Valley jolted by magnitude 6.1 quake – its biggest in 25 years
Did the earth move for you at VMworld – oh, OK. It just did. A lot
Forrester says it's time to give up on physical storage arrays
The physical/virtual storage tipping point may just have arrived
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
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?