Monday, March 23, 2009

GlassHouse rides Bull for European storage services

By Mass High Tech Staff

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Just weeks after announcing it had canceled plans for an IPO, GlassHouse Technologies Inc. says it has entered into a strategic agreement with European IT services and infrastructure company Bull SA to jointly deliver storage consulting services in Europe.

The agreement calls for Bull to use methodologies and tools from Framingham-based GlassHouse in a new consulting practice in Bull’s StoreWay storage integration division. No financial details of the deal were disclosed. French firm Bull, which has operations in Billerica, will work together with GlassHouse to deliver storage needs assessments through Bull’s existing sales and services organizations, according to the companies.

Earlier this month GlassHouse withdrew its initial public offering, citing “current market conditions” as the reason, in a filing with the U.S. Securities and Exchange Commission. The company announced its IPO registration in December 2007, when it expressed hopes of raising $100 million.

GlassHouse went through six funding rounds, with its Series F financing pulling in $9.8 million in December 2008. At that point, the company had raised a total of $64 million.