The application virtualization and streaming startup Endeavors Technologies problems seem never ending.
In May 2008, it mistakenly announced the advent of a new Microsoft licensing (SPLA) which allows 3rd parties to stream Office.
And last Friday the company suspended its share from the London Stock Exchange detailing a difficult financial situation:
The Company announced on 14th February 2008 that it had anticipated completing a major funding round during the first quarter of 2008 and a Prospectus proposing a placing and open offer was in final draft form. However, financial market conditions at that time were not favourable and the Company had not received commitments from potential placees to the level that the Directors considered necessary to maintain existing operations and finance the planned growth, although the process was still ongoing.
The Company subsequently, having reviewed the alternatives, proposed a new funding initiative based on attracting private and institutional investors using a combination of convertible loan notes and ordinary shares. The first two stages of a three stage process were successfully executed and the Company held a general meeting at which shareholders approved the changes necessary to meet the requirements of the proposed stage 3 investors. In addition the Company received approval from the tax authorities for the proposed treatment of VCT/EIS tax relief of such an investment.
The Company signed a binding heads of terms with a lead institutional investor based on syndication with other institutions.
Regrettably, other potential institutional investors have been unable to agree detailed terms, principally on matters of taxation and security and therefore the Company has been unable to complete the final stage of its fundraising.
The Company had intended to move from the Official List to AIM as part of the proposed corporate strategy and shareholder approval for such a move was obtained at the recent general meeting. A condition of the transfer is that the Directors of the Company must provide a confirmation of at least one year s working capital prior to admission to AIM.
The Directors are not able to make such an undertaking without a significant proportion of the intended stage 3 funding having been committed…
virtualization.info has learned that the amount of money required to immediately recover is over £1.5 million.
Alternatively the company has to wait the profits coming from the current partnerships (like the one with Wallace Systems or the one with Vector Networks), not earlier than Q2 2009.
Of course there’s a third option: the company (and its patents) could be acquired for a cheap price.
Considering the impressive consolidation seen so far in the application virtualization market it’s not a too unlikely scenario:
- VMware acquired Thinstall
- Symantec acquired Altiris and AppStream
- Google acquired Greenborder
- Citrix acquired Ardence
- Microsoft acquired Softricity
blog comments powered by Disqus
virtualization.info Newest articles
February 11th, 2016
Yesterday VMware announced version 7 of both its vCloud and vRealize suites, confirming its efforts to be relevant in the CMPs (Cloud Management Platforms) space.
vRealize Suite 7 is made…
February 11th, 2016
Platform9 solutions leverages a mix of SaaS and on premises Virtual Appliance to provide into supported environments capabilities typical of Cloud Management Platforms (CMPs) such self-service provisioning, monitoring, configuration…
February 10th, 2016
Log Insight is a log aggregation, management and analisys tool, that VMware first introduced in 2013 and now is fiercely competing against Splunk.
Today the company announced Log Insight 3.3…
February 1st, 2016
During Ignite 2015, back in September, Microsoft announced Microsoft Azure Stack as the building block for its hybrid cloud strategy.
What Microsoft is saying with this move is that, despite…
January 14th, 2016
Ansible is an IT automation tool especially popular within the developers’ community, thanks to its simplicity and agentless nature.
Three months away from its acquisition by Red Hat the company announced…
December 23rd, 2015
Nutanix is a provider of converged infrastructure, basically a physical server containing both compute and storage driven by an Installed Hypervisor of choice, this server, called a node can…
December 23rd, 2015
Last week VMware finally completed the first major update of VMware vRealize Suite, its well known cloud management solution, releasing in GA both vRealize Automation 7 and vRealize Business Standard…
December 15th, 2015
virtualization.info has been following Virtualization Matrix since its early steps and we recently wrote about its crowdsourced-powered heir: WhatMatrix.
Today we are happy to report that its community, formed…
November 18th, 2015
As you may have heard, Microsoft recently announced its “historical” partnership with Red Hat, something that a number of analysts already claimed as a milestone for both companies but especially for…
October 16th, 2015
Today Red Hat announced that it has signed a definitive agreement to acquire Ansible, provider of an IT automation tool popular especially within the developers’ community.
The acquisition is rumored…
October 12th, 2015
Dell today announced that it signed a definitive agreement to acquire EMC Corporation for a total of $67 billion, making it the largest ever acquisition in the technology industry so…
October 2nd, 2015
Red Hat announced its financial results for the second quarter of fiscal year 2016.
Total revenue for the second quarter ended Augus 31, 2015 was $504 million, with an increase…
September 21st, 2015
Citrix on its website announced that it started the End-of-Life process of Citrix XenClient Enterprise, the end of life date will be December 12, 2016.
XenClient consists of two technologies,…
September 9th, 2015
Altaro Software, company specialized in backup for virtualized environments, specifically Microsoft Hyper-V, announced the release of Altaro VM Backup, previously known as Altaro Hyper-V Backup, rebranded to introduce VMware…