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Less than a year after pulling the plug on a previous attempt to go public, GlassHouse Technologies Inc., a Framingham storage and virtualization consulting and services company, has filed to hold an initial public offering.
GlassHouse is seeking $75 million in this IPO attempt, according to the IPO filing with the U.S. Securities and Exchange Commission — a slight drop from the $100 million it had been planning to raise from its previous swipe at going public, which GlassHouse cancelled in March 2009.
Since then, the company has continued on its path of growth through acquisition, buying Vcare Infosystems AG, a Swiss firm that offers information management services in storage, backup and data archiving, in December. In September, GlassHouse bought British virtualization consulting company Systems Group Integration Ltd. Glasshouse did not release financial details of either deal.
GlassHouse, which has raised a total of $64 million through six funding rounds, sat on its previous IPO attempt (which it filed in December 2007) for more than a year. For the nine months ending Sept. 30, 2009, GlassHouse reported a net loss of $4.72 million, an improvement over the $19.42 million loss for the same period in 2008. For those some periods, revenue climbed from $63 million in 2008 to $65.67 million in 2009.
Before that IPO registration, GlassHouse had spent $30 million in the course of one year, acquiring four companies: Chicago-based server virtualization consultancy RapidApp; London-based data center services company Data Center Moves International; and Israel-based companies MBI Advanced Computer Systems Ltd. and Integrity Systems Inc.
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