GlassHouse Technologies of Framingham, MA, which provides data center management consulting services and Internet-based data backup services, registered Tuesday for an initial public offering that the company hopes will raise up to $100 million.
The company is a player in the red-hot market for corporate server virtualization, helping customers to plan and manage virtualization projects using technology from other companies such as EMC subsidary VMware. GlassHouse also specializes in helping companies to reduce the power needs of their data centers. Its clients include JP Morgan, Morgan Stanley, State Street Global Advisors, Reed Elsevier, Biogen Idec, and Virgin Atlantic.
The venture-backed firm has raised $35 million since 2001 from Boston investors Sigma Partners and Globespan Capital Partners, Waltham, MA-based GrandBanks Capital and Kodiak Ventures, and Washington, D.C.-based Paladin Capital Group. Though the company reported a net loss of $9.6 million in 2006, its services revenues grew from $26 million for the first three quarters of 2006 to $40 million for the same period in 2007.
According to a filing with the Securities and Exchange Commission, the company plans to use the money raised in its IPO for operating capital and strategic acquisitions.
Author: Wade Roush
Between 2007 and 2014, I was a staff editor for Xconomy in Boston and San Francisco.
Since 2008 I've been writing a weekly opinion/review column called VOX: The Voice of Xperience. (From 2008 to 2013 the column was known as World Wide Wade.)
I've been writing about science and technology professionally since 1994. Before joining Xconomy in 2007, I was a staff member at MIT’s Technology Review from 2001 to 2006, serving as senior editor, San Francisco bureau chief, and executive editor of TechnologyReview.com. Before that, I was the Boston bureau reporter for Science, managing editor of supercomputing publications at NASA Ames Research Center, and Web editor at e-book pioneer NuvoMedia.
I have a B.A. in the history of science from Harvard College and a PhD in the history and social study of science and technology from MIT. I've published articles in Science, Technology Review, IEEE Spectrum, Encyclopaedia Brittanica, Technology and Culture, Alaska Airlines Magazine, and World Business, and I've been a guest of NPR, CNN, CNBC, NECN, WGBH and the PBS NewsHour. I'm a frequent conference participant and enjoy opportunities to moderate panel discussions and on-stage chats.
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