Feeds

Plasmon takeover talks fail

Looking for investors

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Seagate brings out 6TB HDD, did not need NO STEENKIN' SHINGLES
Or helium filling either, according to reports
European Court of Justice rips up Data Retention Directive
Rules 'interfering' measure to be 'invalid'
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
Bored with trading oil and gold? Why not flog some CLOUD servers?
Chicago Mercantile Exchange plans cloud spot exchange
Just what could be inside Dropbox's new 'Home For Life'?
Biz apps, messaging, photos, email, more storage – sorry, did you think there would be cake?
IT bods: How long does it take YOU to train up on new tech?
I'll leave my arrays to do the hard work, if you don't mind
Amazon reveals its Google-killing 'R3' server instances
A mega-memory instance that never forgets
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.