Equallogic files to withdraw IPO plans

martedì 29 gennaio 2008 20:30

Jan 29 (Reuters) - Equallogic Inc, a developer of network storage systems, said it filed with regulators to withdraw plans for an initial public offering, citing its acquisition by a Dell Inc DELL.O unit.

Equallogic had filed with the U.S. Securities and Exchange Commission in August 2007 to raise up to $125 million in an IPO of common stock.

In November, computer maker Dell agreed to buy Equallogic for about $1.4 billion in cash. (Reporting by Nachiket Kelkar in Bangalore; Editing by Himani Sarkar)