Feeds

Violin investor: Broken-stringed firm has had FIVE buyout offers

Report: Sez bolshy investor pushing for sale

Beginner's guide to SSL certificates

Violin Memory, the troubled top dog in the all-flash array market, has received up to five buy-the-company offers, according to an activist investor pushing for a sale.

Gregory Taxin is president of the Clinton Group which is prodding Violin to shop itself after its disappointing IPO and firing of CEO Don Basile.

Media outlet Bloomberg reports Taxin as saying at an Activist Investor Conference that five informal inquiries have been received. Violin’s market capitalisation is $295m and shares jumped seven per cent in value to $.58 over night on the news - the September 2013 IPO price was $9.00 which is why investors are angry.

Taxin has an interest in bugging up takeover interest because the Clinton Group will be able to sell its shares at a higher profit if there is a contest to take over the broken-stringed Violin Memory.

Violin is now run by interim CEO Howard Bain, who is also board chairman and pulled the trigger on Basile’s ousting. There is no word of a new CEO, although sources had suggested one would be appointed this month. If the company is shopping itself then no new CEO would be interested in running the company of course. Bain could steer the Violin ship into a new berth and everyone would be happy - or relieved.

We’ve asked Violin about this but don’t expect it to comment. If it does we’ll let you know. ®

Security for virtualized datacentres

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
'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!
CAGE MATCH: Microsoft, Dell open co-located bit barns in Oz
Whole new species of XaaS spawning in the antipodes
AWS pulls desktop-as-a-service from the PC
Support for PCoIP protocol means zero clients can run cloudy desktops
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.